As the Crypto Currency space is maturing and preparing itself for mainstream adoption all the while government agencies are dropping legislation to regulate this new merging asset class. Us here at Kubo and it’s official partners are preparing ourselves to stay ahead of the curve and provide our investors and users on the platform the safest and most secure option to process payment for goods and services from our ever growing vendor & retail ecosystem.
One of these steps taken by the Kubo team was the recent purchase of the exchange once named CryptoHub Exchange. CryptoHub was a small exchange that grew in popularity among the micro-cap community and quickly grew to be a fan favorite. When it was a victim of a hack event, the previous owners closed up shop and the CEO of Kubo and four other investing partners bought the exchange and servers.
Fernando and his partners currently have an outside cybersecurity expert running a security audit on the exchange and has a group of developers creating a new exchange application and designing a new user interface. This is all in efforts to create a secure and easy to use exchange for the traders in and out of Kubo.
How this benefits and ties into Kubo? Kubo will be used as the exchange token for the ELO exchange after it completes its swap to the Ethereum platform Dec 16, 2018. This will provide Kubo with a major additional use case, extra transactions on the network, more volume for buying and selling, and added exposure to new investors and traders.
This helps a lot for the community to grow and for prospective business to see the Kubo project as a potential asset. Due to the added security of the exchange, proper legal framework the ELO exchange team is setting up to operate within the law, and solid projects being selected in the first batch of approved coins/tokens to be tradable.
This all improves the reputation of Kubo and the lowers the risk that is usually associated with crypto asset investing. The exchange is primed to go live beginning of 2019 Q1 and KuboCoin will be available to trade from the grand opening day.