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The Blockchain Story

Koinex launches Loop, a peer-to-peer token transaction network

  • By The Blockchain Story
  • Sat, 30 Jun 2018 14:43:19 PM
  • 0 comments
  • 2

Koinex, Mumbai headquartered Digital Asset Exchange Platform has announced the launch of its new product KoinexLoop, a peer-to-peer (P2P) trustful token transaction network.

The Koinex Loop will be integrated into existing web platform and mobile application and will be available to users in July.

Through Koinex Loop, the Exchange intends to allow users to purchase digital assets using fiat currency – Indian Rupees and sell digital assets for Indian Rupees with “zero network and transaction fees”. The Exchange will continue to provide crypto – crypto trading pairs on its platform.

 “This is the first time that a P2P trading network has been introduced by any exchange in India, whilst even globally there are very few exchanges that have the technical scale and capability to efficiently run such a network. This network will allow traders to legitimately continue to trade their tokens in the light of the current uncertainties in the market,” the company said in a statement.

“Everyone knows that digital assets hold immense value (both economically and technologically) but unfavourable regulations pose a threat to the investments made into digital assets. Loop is a whole-hearted effort to ensure that the legit and verified investments made by Indian investors’ don’t turn into dead assets and allow people to find true value. Absence of progressive regulations or presence of regressive regulations allows bad actors to infiltrate a legitimate industry. Loop also ensures that honest investors and traders don’t fall prey to such scammers or bad actors in an impulsive and imprudent attempt at safeguarding their investments”said Rahul Raj, Co-Founder and CEO, Koinex, in a post at Medium.

“We began with the mission to turn India into a hotbed of blockchain technology development. With all the steps that we have taken so far — building India’s first and largest digital assets exchange, providing gateways to Indian investors to participate in the best of blockchain projects across the globe, holding discussions with various government agencies for positive regulations, sponsoring and hosting blockchain events, spreading awareness to safeguard investors’ interests and approaching the honourable Supreme Court of India after the RBI directive — Loop falls in line with our ultimate goal of fuelling a blockchain powered internet in India”, post added.

“Loop allows honest investors and traders to safeguard their investments from scammers and Ponzi schemes for digital assets exchange. We have worked out the mathematics and economics to create a perfect blend of transaction and trade, without compromising on the seamless experience that users are accustomed to on Koinex. Combining the principles of decentralisation, trust, security, data privacy and ease-of-use, Loop will complete the full circle for digital assets trading in India,” said Aditya Naik, Co-Founder & CBO, Koinex.

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