COSS, a new cryptocurrency exchange, has announced it is making progress towards Know-Your-Customer (KYC) checks and fiat integration in a move towards competing with popular cryptocurrency exchanges.
In an email, COSS said: “The successful completion of the KYC testing will bring us closer to fiat implementation.”
Fiat implementation is scheduled for April 2018 with support planned for USD, EUR and GBP. Many mainstream exchanges do not have fiat integration because of the regulatory requirements and instead use Tether (USDT) or True USD (TUSD) which mimics the price of USD.
COSS’s vision is to bring cryptocurrencies to the masses, going beyond popular services like Coinbase, allowing for more coins to be traded and providing a trading view you might find on exchanges.
COSS CEO Dan Dearnau is also CEO of Under Development Office, a full stack development company specialised in mobile solutions. He is currently working with FinTech startups from Singapore in implementing smart-contracts applications on Ethereum.
The price of COSS coin (COSS) is up 7.03% to the dollar at $0.24 over the past day within a cryptocurrency market that is in decline. It has followed the market over the long term, falling from its all time high of $2.91 in mid-January.
Article written by Tim Copeland
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