Crypto Exchange Covesting Announces First Stage Of Fiat Gateway

Announcements, News | January 22, 2019 By:

European cryptocurrency exchange Covesting has announced that its fiat gateway and cryptocurrency converter has moved into the first stage.

Founded in 2017, Covesting allows everyday investors to search and compare the performance of hundreds of proven crypto traders and mirror their trades automatically. At the same time, the platform helps investing talents bring their results in front of the public and compete with other traders in the equally-fair environment. In October 2018, it has become one of the first companies in the world to receive a Distributed Ledger Technology License (DLT) from regulatory authorities in Gibraltar.

The company said in its announcement that its fiat gateway is now accepting EUR deposits via wire transfer. Additional options for fiat deposits/withdrawals as well as the buying and selling of cryptocurrencies will be released in stages over the coming weeks.

Dmitrij Pruglo, Founder and CEO of Covesting, said that the launch of a fiat gateway is yet another step towards their “ultimate goal of being the most complete, secure and transparent cryptocurrency platform in the industry.”

“Allowing retail and institutional clients to legally exchange fiat into crypto automatically gives Covesting an edge and puts us among very few exchanges who offer such a solution,” Pruglo said. “There are hundreds or maybe even thousands of crypto-crypto exchanges out there, but few who offer a legally compliant bridge between crypto and the traditional world of finance. We will continue to monitor the market and adapt to the new reality while offering the most demanded tools for our users.”