Jack Dorsey-backed CoinList Launches Pro Exchange for Institutional Token Buying and Trading

UTC by Bhushan Akolkar · 3 min read
Jack Dorsey-backed CoinList Launches Pro Exchange for Institutional Token Buying and Trading
Photo: The CoinList Blog

The CoinList Pro exchange aims to offer a seamless experience to investors and traders for token purchase and sale while overcoming previous hassles.

On Thursday, July 30, the Jack Dorsey-backed token sale platform CoinList announced the launch of its professional platform CoinList Pro. The professional exchange is majorly aimed for token investing and trading facilities institutional clients.

CoinList is popular worldwide for some of its successful cryptocurrency sales to accredited investors and other non-U.S. clients. Some of the very popular cryptocurrency sales hosted by CoinList include Solana, Celo, Dfinity, Blockstack and Filecoin. Since its inception in 2017, CoinList hosts several Thunder users on its platform. Besides, it has also facilitated over $1 billion worth of transactions to date.

Last year in 2019, CoinList received a good amount of investment from Twitter CEO Jack Dorsey. CoinList president Andy Bromberg said that the new Pro Exchange will add features like “a live order book and multiple order types”. This will be in line with CoinList’s token sale offering with secondary trading. Thus, unlike earlier, investors and traders won’t face friction for token distribution after a sale.

“Previously, the token sale would happen and then we would give users instructions to generate a wallet, then they would wait for an exchange to support the token on the trading side and then they would have to send the tokens from their wallet to the exchange,” Bromberg explained.

Bromberg aims to change this with CoinList Pro. He added: “Our dream sequence is users buying from a token sale and eventually selling that asset on CoinList Pro for a seamless flow”.

CoinList Is Popular for Trading Early-Stage Cryptocurrencies

On the other hand, CoinList aims to be an exchange popular for the trading of new and less popular tokens. Although it lists cryptocurrencies like Bitcoin and Ethereum, it’s not a go-to platform for trading these high-value digital currencies. Rather it’s more popular for early-stage cryptocurrencies. Admitting it, Bromberg said:

“The exchange space is hard. But our biggest advantage is: anyone who participated in a token sale on our platform is a CoinList user and they are going to be the most passionate community members. And we instantly will have those community members as exchange clients.”

With its new service, CoinList plans to partner startups like Bison Trails, Anchorage, and BitGo. CoinList looks to partner for staking and custody options for a dozen cryptocurrencies by 2021. Currently, CoinList Pro lists cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Orchid (OXT), Celo (CELO), and Algorand (ALGO). Bromberg said that it will be the first exchange to support Filecoin trading after the token launch in September.

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