Covesting now offering its beta trading platform to public
Fintech startup, Covesting, is ready to offer the public access to what it describes as a “cutting-edge” cryptocurrency trading platform beta. This gives those interested in some of fintech’s leading technology the opportunity to familiarize themselves with the platform’s interface and try out some of its features. Already worked with by 200 beta testers for a month during Phase 1 of its testing, Covesting continues to push the boundaries in terms of customer relations and user involvement in development. For example, it launched 24/7 multilingual support during the first beta testing stage, which has contributed to its fast and efficient development of the platform.
Covesting is creating a powerful blend of innovation, security and reliability, actively seeking regulation in order to inspire confidence and ensure professional delivery of products and services that attract new investors and also professional traders. The company covers a broad range of activities in relation to cryptocurrencies but primarily it offers an authorised digital asset exchange, a copy-trading platform and fiat/crypto gateway, with ranking of traders according to their performance, advanced trading tools, the ability to message other traders among other features. However, Covesting is also focused on providing legal compliance in all its activities in the cryptospace, and, recognizing the importance of locating itself in a place where the industry is supported by government and protected by regulation, it has incorporated in Gibraltar.
In early May, Covesting applied for a DLT license to operate in Gibraltar. Quoted on the Covesting website, the company’s founder and CEO, Dmitrij Pruglo, explained: “DLT licensing ensures that the company runs a legit business that has a good team behind the project, it has all the necessary tools to protect customers, but apart from that it’s also very important to structure up all internal procedures, policies, and workflows. What this means is that when you are setting up, for example, treasury operations or are dealing with trading operations, it means that you have to have instructions on how people will behave, because when you’re building a company, which will be scaled into an enterprise and a big corporation, later on, you need this set of rules, and this is what the GFSC commission will be looking into.”
Covesting aims for its platform to become a user-friendly one-stop solution to purchase, exchange and trade cryptocurrencies. Operating in a regulated environment where the regulations mean that the company has to have all the right structures in place for transparency, consumer protection, professionalism, and risk management is a vital part of Covesting’s development programme, and with its leading approach to regulation which fosters innovation while applying strict rules, Gibraltar was an ideal location for the company to establish itself and launch its cryptocurrency trading platform.
