NEW YORK, Oct. 25, 2017 /PRNewswire/ -- Today, COBINHOOD, a next-generation cryptocurrency service platform announced the completion of its Initial Coin Offering (ICO). The platform has successfully raised 10 million USD equivalent ETH through ICO.
COBINHOOD's first service is a zero fee exchange with the vision to provide the ultimate trading experience for traders all around the globe. COBINHOOD's backend team developed a proprietary order matching engine that can process millions of orders with sub-millisecond latency, achieving the true 'real-time' trading experience.
In 2018, COBINHOOD will launch ICO underwriting service. COBINHOOD will underwrite high-quality ICOs that have passed stringent due diligence, smart contract code review and legal compliance. The offering will also include marketing and public relations consulting services to help promoting ICOs.
"With nothing available on the market to date offering zero-fee trading for the cryptocurrency community, we knew how valuable COBINHOOD would be for the growing number of people getting involved in the blockchain era," stated Popo Chen, COBINHOOD CEO. "Moving forward, a decentralized exchange will be live, we target to launch this new platform in the second quarter next year."
COBINHOOD has secured 5 million USD from private placement and another 5 million USD from VC funds, which includes involvement from Banyan Capital and Infinity Venture Partners. The company will also launch more financial derivatives and services in the future, for example, crypto assets trading with stocks, commodity, market indexes, and futures. In addition, COBINHOOD will also launch cryptocurrency wallet and retail payment service. "We're confident COBINHOOD will become the epicenter of the crypto world," Chen added.
Popo Chen, who was the original founder of '17 Media', is focused on shaping future economies by creating a financial center for the blockchain era. The team, which is includes individuals like former White House CIO Tony Scott, believe the evolution of blockchain technology and a decentralized financial landscape will transform capital markets with long lasting impact.
For more information, please visit https://cobinhood.com.
Launched in 2017, COBINHOOD is a next-generation cryptocurrency service platform. COBINHOOD is home to the world's first zero-fee, high-frequency cryptocurrency trading platform. The company was founded by Popo Chen, the original founder of '17 Media', with the intention of shaping future economies by creating a financial center for the blockchain era.
COBINHOOD believes the evolution of blockchain technology and a decentralized financial landscape will transform global capital markets and business organizations with long lasting impact.