EO, a four-platform-ecosystem has obtained two licenses for operation of its upcoming crypto fiat exchange and wallet. This makes it one of the first crypto-based companies to receive a license prior to launching its crypto products and it can officially allow the use of fiat on its future crypto exchange, crypto wallet and online trading platform, as well as the exchange of its own coin, EO, with fiat.
Regulation in the crypto world is a fairly new topic which has been getting a lot of attention as more crypto related projects emerge. Many crypto exchanges and wallets are seeking to receive licensing for their services, however, currently exchanges and wallets, including some of the biggest names, are operating without licensing, and are allowed to due to the youth of the cryptomarket.
EO comes from ExpertOption headed by Ivan Opria. The ExpertOption platform was developed and implemented in-house, providing a web based platform, as well as a desktop and mobile application. It was designed to bridge the gap between traditional online trading and Crypto investments offering online trading services to traders from more than 150 countries. The expansion to the crypto sphere led to creation of a range of new products including the EO.Finance wallet, EO.Trade crypto exchange, EO.News portal, token-based accounts on ExpertOption, and, consequently, receiving the Virtual Currency Exchange Service License (number FVR000193) and the Virtual Currency Wallet Service License (number FRK000161).
EO.Finance, the financial crypto-fiat hub which will serve as a wallet for storing and exchanging cryptos with fiat, is expected to be released in July 2018 according to the roadmap. EO.Trade crypto exchange, which is the biggest project in the ecosystem, will be released in December of the same year and is now officially licensed to offer direct exchange from fiat and crypto and vice versa along with all other EO products.
In the beginning of April, ExpertOption introduced EO coin for its multiple investment platforms, and now, the system will introduce token-based accounts on its online trading platform, where the EO coin will allow crypto trading with higher profit percentages, and lower transaction fees on EO.Finance and EO.Trade.
The EO coin pre-sale started on the 16th of April and will continue until the 29th of June. As it was previously reported by Coinspeaker, it took only a month for EO to overachieve in realizing its plans on integration new cryptos -during the first month of ICO it has integrated 30 digital currencies for making payments with Aelf, Augur, Loom, and BAT among recent integrations.
“Fulfilling our promises is a given, we plan to exceed expectations,” CEO Ivan Opria said. He continued: “After our success with ExpertOption, EO is about expanding options for investors and bringing blockchain and traditional online trading closer in a convenient and practical manner”.
The second round of sale is scheduled to be live from July 16th to August 31st.