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Currency.com: An Award-Winning & Regulated Tokenized Asset Exchange

Currency.com is an award-winning, regulated exchange for tokenized assets. Here's our full review with Pros & Cons.
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Currency.com is bringing next-generation tools to the world of currency trading. There are some major gaps in how cryptos are handled, and anyone who wants to use new monetary tools is faced with less-then perfect platforms, especially within the established financial system.

As blockchain technology unites asset classes, traders now have tons of options to invest in and profit from financial assets. Today, digital currencies are changing how people can send and receive money. All this leads to demand for a quick and convenient platform that smoothly integrates the exchange of numerous financial instruments.

Currency.com is one of the first platforms to provide trading services that link crypto and securities without the need to switch to fiat money. With Currency.com, any gaps in crypto and real-world market are eliminated – complex trading becomes easier than ever!

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Currency.com Emerges at Right Time

Belarus is a world pioneer in adapting to cryptocurrencies. It has accommodative legislation and is very open to technology. The country developed an officially legal framework that acknowledges and regulates crypto activities, which makes it a perfect development environment for crypto companies.

Unlike other nations that tried to make crypto compliant with their old-fashioned legal system, Belarus was one of the first to build a completely new framework for crypto, and it into practice.

Currency.com Homepage
Currency.com Homepage

Belarus also provides enormous supports and incentives to smart financial asset trading, such as offering a favorable tax scheme for crypto transactions and Initial Coin Offerings (ICOs).

Belarus is recognized by consulting firms for how attractive it is for outsourcing services, especially in tech fields. In that context, Currency.com was introduced with a breakthrough initiative.

A Solid Step in the Right Direction

Not too long after its establishment in June 2018, the company qualified for authorization by the Belarusian government as a regulated cryptocurrency platform (in November 2018). Just two months later, Currency.com succeeded in attracting a large investment from VP Capital and Larnabel Ventures.

The number was not explicitly declared, but some sources revealed it could be $10 million USD.

Over just two years, Currency.com has been constantly upgrading its platform and expanding its services. Despite being a young company, its impressive progress can be seen through a number of remarkable events:

  • June 2018: One of the first tokenized trading platform to be launched
  • November 2018: Officially regulated under the approval of Belarus’s High Technological Park
  • May 2019: Officially launch tokenized securities trading through a partnership with Capital.com
  • May 2019: Announcement of mobile application
  • October 2019: Launch a media platform
  • December 2019: Starting a trader contest

About The Founders

Currency.com’s foundation and leap forward are being powered by bright minds. The main founder, Viktor Prokopenya, is also the creator of VP Capital, which is an investment firm.

With an academic background and also real-world experience, particularly in IT, computer science as well as entrepreneur and finance, Prokopenya businesses have seen success.

Prokopenya started Currency.com together with Nikolai Markovnik, an investment law expert, who helped the Belarusian government in drafting IT, blockchain and crypto regulations.

The two founders received a lot of backing from Said Gutseriev, a billionaire and chairman of Larnabel Ventures, one of Currency.com’s two largest stakeholders.

The Currency.com Model: Creative Innovation

Currency.com’s platform is a place for digital coin exchange with fiat money, but users are also able to purchase or sell many traditional stocks in the form of tokens. Currency.com has created a market with more product categories and flexibility.

The company is one of the world’s first companies to apply tokenization technology in its trading platform. In particular, all financial assets on Currency.com, no matter if they are crypto, securities, bonds or fiat money, will be converted into tokens, which carry the value of the tokenized asset.

Tokens are the major unit for conducting cross-asset transactions on Currency.com, and everything can be exchanged in tokens.

Currency.com Trading Platform
Currency.com Trading Platform

Thanks to the close partnership with Capital.com, a British fintech company that is well-known worldwide for its broad access to 2,000+ markets, Currency.com is capable of connecting crypto traders with the real cosmos and diversifying their portfolios.

So far, Currency.com has issued and supported over 1,300 tokens that represent cryptocurrencies, commodities, stocks, bonds, indices, and so on. But it doesn’t stop there. Currency.com’s bigger vision is to widen its bucket to reach 10,000 so as to include as many transferable assets as possible.

This is how the model works out: Currency.com buys available securities from Capital.com, then tokenize them. Users joining the platform can purchase those tokenized securities with their crypto and gain profit upon price discrepancies.

Currency.com obtains revenue from trading fees and other related service charges, for instance, fees of smart asset withdrawals.

Why Use Tokens?

If you have ever looked into how custodianship works in the financial markets, then you probably understand why tokenized assets have the potential to revolutionize how people trade assets. For example, when a person buys a stock on a major exchange (the NYSE, for example), the actual ownership of the asset may never be transferred to the buyer.

The reasons for this arrangement are complex, and the system that exists has grown up over the last few hundred years. Sufficed to say, we have much better options for asset trading today, and tokenized assets offer investors a much shorter chain of custody.

In addition to making the process of trading much easier, tokens allow the near-instant transfer of ownership. Instead of relying on a broker to manage cross-asset class trades (and paying the fees), tokens allow investors to move seamlessly across assets, without the need for an intermediary.

As we have seen over the last decade, the financial markets don’t always work in the way we hope, and if your bank or broker goes bust, it may be very hard to establish ownership over assets. As long as the tokenization is done correctly, tokens remove this risk and give investors a more direct form of ownership.

Buy Bitcoin on the go with the Mobile App
Buy Bitcoin on the go with the Mobile App

Currency.com Advantages

We are living in a time of change, and Currency.com is embracing all the new technological developments that can help investors. In addition to solid thought leadership, the company has demonstrated that it can integrate next-generation financial technology into practical solutions that can be used today.

Currency.com has some wonderful things to offer global financial markets:

  • Currency.com is one of the first regulated token platforms. Its services are fully compliant with all the relevant laws. Belarus is a pioneering nation that has created and implemented crypto regulations, such as Decree No. 8 “On the development of a Digital economy” and strict Anti-Money Laundering (AML) rules.
  • Has lots of products across a range of asset classes. Exchanges like Bitmex, Bybit, or Deribit don’t have the same range of products.
  • Currency.com also has a mobile app, which isn’t offered by Bitmex or Bybit.
  • Clients know that Currency.com has a solid regulatory foundation, which helps raise the company’s credibility and expand collaboration with many other large organizations, for example, Russian Sberbank.
  • Other exchanges that offer some similar services, like Bitmex, have no regulatory backing, which may not be good for traders and investors who need the assurances that regulations provide.
  • The company has a partnership with Capital.com, a secure exchange platform with an extremely broad range of assets. This partnership is great for investors, as it allows the platforms to integrate numerous markets with ease.

Currency.com: The Rundown

If you are looking for a platform where cryptos, fiat, and other asset classes meet, Currency.com is probably one of the best places to be. It is fully regulated and offers investors and traders some amazing capabilities that would be hard to find anywhere else.

Here are some of the reasons why Currency.com makes a lot of sense:

  • Currency.com makes funding easy by accepting various ways for deposits, including by cash, bank transfer, credit card, or e-wallet. Users can maximize their margin thanks to optional token resales on secondary auctions. Belarusian traders get even more, as they receive tax exemption for any income from tokenized transactions.
  • Currency.com continues to improve its ecosystem and build towards an integrated platform that works on numerous devices. An audit in 2018 by Ernst & Young stated that Currency.com is comprehensively compliant and reliable.
  • The team at Currency.com is working on becoming regulated in other countries and regions, from Australia to Asia and the United States.
  • Currency.com is one of the first and fully regulated token trading platforms. It offers great security and many asset classes.
  • Currency.com can be accessed in many ways. Users can use blockchain intelligence tools, such as Elliptic and Chainalysis to track their transactions. Overall, the platform offers great connectivity and oversight.

Currency.com is an early mover in the tokenized asset market, and it is positioning itself to grow in an industry that offers investors and traders some big advantages. It has worked hard to be as compliant with regulations as possible, which is a great sign.

The trading platform on Currency.com is also well made and is available on many devices. As tokens become more popular in the financial world, it is likely that the kinds of assets that are offered in token form will expand.

Currency.com is worth a look for anyone who wants to trade across a range of assets and does so on a single platform. The company is likely to keep expanding its product offerings, and also create more strategic partnerships as time goes on.

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Nicholas Say was born in Ann Arbor, Michigan. He has traveled extensively, lived in Uruguay for many years, and currently resides in the Far East. His writing can be found all over the web, with special emphasis placed on realistic development, and the next generation of human technology. Contact Nick@blockonomi.com

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