- Covesting has reportedly tested all functions of its platform, like order execution, data calculation, and others, using a software-as-a-Service model
- The exchange is looking to create several methods for clients to fund their crypto trading accounts with fiat money including transfers, bank wires, and credit cards.
- Covesting says credible crypto projects that have completed their initial coin offerings (ICOs) will be allowed to list their tokens in the coming weeks.
Covesting, a digital assets trading platform that conducted its initial coin offering (ICO) in late 2017, has successfully carried out a “soft launch” of its innovative cryptocurrency exchange which is aimed at integrating financial trading and professional asset management experts into the cryptospace, according to a Finance Magnates report on November 13.
Covesting Getting It Right
Earlier in October 2018, Blockchain Reporter reported that Covesting cryptocurrency exchange had secured a blockchain technology provider license from the Gibraltar Financial Services Commission (GFSC).
Building on that achievement, the team has announced the “soft launch” of its trading platform focused on bringing professional asset management experts and financial trading into the world of digital assets.
Per sources close to the matter, Covesting, which had earlier conducted its beta testing by selecting 200 testers who were provided with deposits 0.2ETH each to explore the entire features of the exchange and report bugs found; has also done several default tests using a Software-as-a-service delivery model.
The platform has extensively tried to find out issues in its user interface, order execution as well as its data representation/ calculation operations.
More Account Funding Methods
With its beta testing and soft launch operations successful, Covesting has reportedly hinted it’s looking to roll out more methods with which clients will fund their cryptocurrency trading accounts with fiat money.
The exchange plans to support credit card deposits, bank wires, transfers and more.
At a time when many established digital assets exchanges still charge projects huge fees to get their tokens listed, Covesting says it will throw its gates open for ICO-generated tokens to get listed on its platform.
Although Covesting did state if these tokens will be listed free of charge on its platform, it has however made it clear that it would carefully evaluate each blockchain project before listing.
Initially created by Dmitrij Pruglo and other former executives of Saxo Bank with extensive experience in forex, derivatives and equity trading, Covesting claims its primary objective is to make cryptocurrency trading profitable for even crypto greenhorns by allowing them to search and compare the performance of expert traders and mirror their trades automatically.