As we mentioned in the Beluga Pay whitepaper, Beluga Pay believes that a crypto currency exchange is an important part of being able to offer the best rates and fastest service for transfers between FIAT and cryptocurrency, and vice versa.
Having a secure and fast capability for merchants to instantly sell cryptocurrency to FIAT will be an important part of establishing point of sale devices. Some merchants do not want to risk holding cryptocurrency and Beluga Pay must be able to provide them with instant FIAT deposits in order to gain market acceptance.
We have seen other existing exchanges in South Korea realize that they are in an optimal position to transact between FIAT-Crypto currency and launch partnerships with point of sale systems to leverage this advantage.
Beluga Pay is developing a decentralized exchange with the intention of being able to provide the best rates, lowest fees for our merchants who want to exchange altcoins and cryptocurrency into FIAT, and vice versa.
For merchants, we expect the exchange to be completely behind-the-scenes process, with an instant click of a button, to reduce the potential risk of volatility with particular crypto.
We expect that Beluga Pay having its own exchange will enable us to make more seamless, secure transactions for the benefit of all merchants.
Exchange Token Airdrop
All holders of BBI tokens will be eligible for the exchange coin airdrop that will occur June 15, 2018 at 5 PM GMT.
To put it simply, users participating in the Airdrop will receive another token. For BBI holders, at this time you do not need to do anything.
BBI tokenholders must be holding the tokens in their MyEtherWallet addresses at the time stated above in order to be eligible for the airdrop.
The Exchange token will be usable within the exchange and serve different purposes than BBI. We are conducting this airdrop because we want to reward our early supporters.
Launch Timing and Additional Details
This project has been in development for several months and we expect to have a beta released in August 2018. Holders of the Airdrop will gain first-access to the exchange.
There are over 500 exchanges, we do not want to launch just another exchange. We believe some of the features we have planned for this exchange will lead to us building the best Crypto Exchange community available today.
Since this is a new development for many of you, there will be undoubtably many questions. We expect to answer those questions in upcoming posts but for now please give us a clap :)
