Koinex in India has introduced the peer-to-peer trading platform to make the transaction easy of digital assets for Indian investors against INR fiat currency. The name of this new platform is Koinex Loop.
Koniex has fully integrated itself with new platform Loop to create their own ecosystem where the user can access Cryptocurrencies on Koinex using one account and can trades on Loop in INR/ crypto too.
According to Koniex, the concept of Collateralized trading on the Loop’s P2P network in the country will give a security to users on digital assets trading and also ensures user authenticity and trustful order settlement with minimum disputes. It is a form of guarantee to incentivize genuineness of the trading activity. Collateralization can set a new standard for trusted trading, which will be adopted by the industry.
Major highlights of Loop:
- One account for trading on both Koinex & Loop
- Currently supports Bitcoin, Ethereum & Ripple
- Multiple payment options
- Action reminders like SMS and automated phone calls
- Direct communication via masked calling
- The technology-enable dispute resolution mechanism
The Koniex also mentioned that due to the absence of INR to exchange with Cryptocurrencies also recently rapidly decreased the process of digital assets in the country. So, Koinex has introduced the TrueUSD (TUSD) as a stable coin on the exchange.
The TrueUSD trading market allowed users to trade against a fiat-backed stable coin and also hold their earnings and profits in form of TUSD, shielded from the market price volatility.
Similarly, in the midst of the ongoing market uncertainty, Koinex to keep the market alive has introduced the Loop.
Loop went live on July 17, 2018 and is bundled directly into the Koinex ecosystem.
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