Ubcoin token Starts Trading on Singapore-based C.O.S.S. exchange
Ubcoin Market , global peer-to-peer Ebay-like marketplace for exchanging real goods to cryptocurrency and back, announced that on August 28 its UBC token will be unlocked and begin trading on a Singapore-based cryptocurrency exchange C.O.S.S. (coss.io). Ubcoin Market app will be available for public download and use (selling and buying goods for UBCs) shortly, in September. Currently Ubcoin is conducting final days of its token sale at ubcoin.io
Ubcoin utilizes the online marketplace model to create the world’s first truly efficient way to get cryptocurrency or spend it on tangible goods without engaging fiat money in these processes. On the one hand, those people who do not have cryptocurrency yet will be able to become crypto investors in an easy and safe manner, simply by selling something that they own. On the other hand, expert crypto owners will be able to spend their crypto wealth on real goods without facing legal and financial obstacles related to converting digital coins to fiat money. UBC is an utility token empowering peer-to-peer marketplace ecosystem.
C.O.S.S. exchange is a corporate member of ACCESS (the Singapore Cryptocurrency and Blockchain Industry Association) and listing on C.O.S.S is a logical and reasonable choice for Ubcoin. Ubcoin is officially incorporated in Singapore as an exempt private company limited by shares. Global marketing and business development Ubcoin departments are relocating to Singapore shortly.
Ubcoin regards Singapore and other Asian countries (notably China, South Korea, and Indonesia) as core territories to promote its business. By the end of 2018 Ubcoin is planning to open regional branches in Hong Kong and Seoul. A comprehensive partnership with a Singapore-founded company Qbao Network has also been announced last week.
We chose C.O.S.S exchange not only because of its jurisdiction and active Asian community in user base, but also due to its good security track record. The exchange has elaborate security mechanisms, a wide range of trading pairs, competitive commissions, a user-friendly interface and easy sign-up procedures. The exchange carries out serious due diligence, legal and technical audits before listing a token so there are only worthy altcoins traded there against BTC and ETH pairs.
C.O.S.S. and Ubcoin are also holding a trading promotion to commemorate Ubcoin’s first exchange listing. Top 50 volume traders will receive sizable incentives.
“We have always focused on delivering on our promises to users, supporters, contributors, team members. During the token sale we have been working on both developing a fully functional and user-friendly product and implementing a well thought-out exchange strategy because we know that these things are important to the community and are achieved by a very small number of new projects. We are happy to present positive results on both sides” — Felix, Ubcoin CEO.
Ubcoin Market mobile app will be available for download and use shortly after listing on C.O.S.S. The platform will be available in several Asian languages and is expected to have the following features: creating a listing to start selling, an advanced search system, a chat establishing a real time communication between a seller and a buyer, and the process of buying an item for UBC tokens (utility tokens for settlement of smart contacts and fees on the platform).
The market is so bad that we feel that listing on larger exchanges has the potential to have the token price severely depressed and ruin its longer-term potential in the eyes of investors. Therefore, it behooves us to tread lightly, starting from smaller exchanges and over the course of the remainder of the year selectively listing on medium and larger exchanges, both as the market improves and as trading community becomes more familiar with UBC.
This strategy has an additional upside of allowing us to focus the funds on product development as opposed to forking them out for outrageous listing fees.
In September we will be releasing Ubcoin app, the timing will be tied to coincide with uptick in the market (if any), or with another exchange listing. Live app naturally will improve the project’s community size and demand for UBC as utility token, as well as attractiveness and negotiating power with other exchanges.