Yet another month of Spring is behind us, and our platform continues to thrive as we work toward our vision. The month has been an active one in the crypto market, with Bitcoin making a major rally, and the COV token stabilizing as market conditions turn increasingly bullish. The market is once again beginning to trend up, and interest has returned to the market as dynamics improve.
Here’s a look at all of the important milestones we achieved during the month of April.
Partnership Announcement: Copy-Trading Is Coming To PrimeXBT
Covesting was proud to reveal its first new partnership with margin trading platform PrimeXBT, making it the first third-party platform to license Covesting’s proprietary copy-trading module, and integrate the COV utility token into the trading platform.
Our team and the developers at PrimeXBT are working closely together on the implementation of the technology, and are excited to share all of the details, features, and integration specifics with you at a later date. We’re also preparing a sneak preview of the copy-trading module, which we will reveal in the next couple of weeks.
We are also happy to reveal that through PrimeXBT, crypto traders will also be able to utilize copy-trading functionality across forex, commodities, and stock indices as well. Learn more about these new assets on PrimeXBT’s official blog. Thanks to the partnership with PrimeXBT, investors will get the most value from the copy-trading functionality.
The implementation roadmap requires detailed analysis of potential business partners, and an extensive due diligence phase where licensing and legal agreements are signed. Following that, we move onto business operational planning and start working on the UI design. Then begins core backend integration, and performance and quality assurance testing. Once we are happy with the progress and testing is complete, we move onto an alpha phase for additional internal use and testing, then onto the public beta phase for a more widespread stress test of the platform. After that, the COV token will be fully integrated, then we can begin to plan the launch.
The implementation roadmap:
• Potential business partner analysis (done) ✅
• Partner due diligence phase (licensing and legal agreements) (done) ✅
• Business operational planning (done) ✅
• User interface design and planning (in progress)
• Core backend integration (in progress)
• Performance and quality assurance testing
• Alpha version release for internal use and testing
• Limited public beta version released
• Public release
• Token functionality integration
Please understand that due to the development being dependent on working with our third-party partners, we cannot commit to specific dates for each aspect of the roadmap. We will continue to provide updates throughout the development process.
Following the announcement that brought two cryptocurrency powerhouses together, we received an outpouring of interested companies seeking to partner with Covesting in a way similarly to the announcement made in partnership with PrimeXBT earlier in the month.
The buzz surrounding the partnership proved that our plan to bring copy-trading to other platforms was a sound strategy, and thus garnered the interest of many other market participants.
Through pursuing this B2B strategy, Covesting will build a much larger client base and opportunity than what is possible on a single platform. We aim to leverage our existing relationships and associations with the Crypto Valley, the European Economic Area, and more, to source additional potential partners.
Our vision is to enhance the crypto market with our proprietary, cutting edge copy-trading technology, helping both novice traders and professionals to generate more profit than ever before possible. We will achieve this both through the release of copy-trading on Covesting itself, and through licensing the disruptive trading technology to additional third-party companies that live up to our high level of business and ethical standards.
Continued Close Cooperation With Regulators
We are working very closely with the financial regulator on the implementation of all our platform’s features, and to ensure all conditions and guidelines are met.
Through our continued cooperation with regulators, we will gain the additional approvals necessary to launch our most anticipated features, including copy-trading, short-selling, and much more.
Covesting Token Price Stability
As the crypto market conditions have improved, the COV utility token has stabilized. This means that all speculators have left and what remains are our valued long-term investors and supporters. When copy-trading is fully launched (natively or on 3rd party platforms), the token’s true potential will be unlocked.
Covesting continues to work smoothly, we accept fiat deposits and offer low commissions, so be sure to make a deposit, start trading, and start bringing in increased profit today.
As Covesting has demonstrated throughout the year and beyond, we remain committed as ever to developing our trading platform for digital assets across the globe.
We look toward sharing additional details on the implementation of the copy-trading module on PrimeXBT. Stay tuned to our official blog and social media channels for more updates in the coming weeks, as Covesting continues to evolve.