- Switcheo decentralized exchange went live on the NEO blockchain earlier in March 2018
- Switcheo says the launch of Callisto will enable users to trade cryptos on two different distributed ledgers
- Switcheo will now list 22 new trading pairs including the Maker stablecoin (MKR), Omisego (OMG) and other ERC-20 coins and tokens
Switcheo (SWTH), a distributed ledger technology (DLT) powered multichain digital assets exchange which is the first application deployed on the NEO blockchain, has completed its Callisto upgrade and is now live on the Ethereum smart contracts blockchain, according to a press release by the firm on November 20, 2018.
Switcheo Launches Callisto
Switcheo (SWTH), the world’s first multichain decentralized exchange (DEX) built on the NEO (NEO) blockchain has launched its Callisto upgrade on the Ethereum network, making the platform the first DEX to support both NEO and Ethereum distributed ledgers.
Launched in April 2018 via an initial coin offering that generated an impressive $8.5 million, Switcheo has been steadily evolving into a robust decentralized exchange since then.
With a market capitalization of just over $3 million and its native SWTH token trading at $0.006267 as seen on CoinMarketCap, Switcheo claims it has more than 25,000 registered and active cryptocurrency traders on its platform.
While Switcheo users are still basking in the euphoria of the Callisto launch, the CEO of Switcheo, Ivan Poon has hinted that the team is working tirelessly round the clock to build a dedicated blockchain network that will facilitate trustless and frictionless cross-chain transfers in the near future.
“I am proud to unveil Callisto to you today, and the positive response that we have been receiving from the community gladdens my heart” declared Poon, adding “Switcheo will continue to reach for excellence to bring users a world-class trading experience.”
Further commenting on the launch of Callisto, Poon tagged it a significant milestone for both the Switcheo exchange and its users, as it allows crypto traders to trade on two separate blockchains, while also significantly reducing the chances of bad actors compromising the platform.
Switcheo To Support 22 New Trading Pairs
Following the launch of Callisto, Switcheo has said it will list 22 new trading pairs including the Maker (MKR) stablecoin, OmiseGO (OMG), Basic Attention Token (BAT) and several ERC-20 tokens.
Launched in 2016, NEO (NEO) is home to a vast array of decentralized applications (dApps) including NEX, AdEX, and others.
At press time, NEO is ranked 17th on the CoinMarketCap top 100 cryptos table, with a $586.14 million market cap and a price of $9.02.