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With the establishment of bitcoin – a decentralized electronic peer-to-peer cash system that outgrew its initial purpose and became a global phenomenon – many people outlined plans to decentralize various other niches. Somewhat expectedly, the financial industry has been among the most talked-about, given its centralization that has embodied it for centuries.
As such, the word “decentralized” began popping up left and right, but very few projects have actually managed to reach the whole meaning of it when it comes down to their product. Coinlocally, a crypto exchange with fiat to crypto on/off ramps, has set out its plans on how to tackle this as it ultimately wants to be a decentralized bank.
To do so, the company has signed multiple notable partnerships, including with the digital asset giant Binance and Mercuryo.
Coinlocally, Binance, Mercuryo, and More
Perhaps the most talked-about partnership that came in recent months was with the Changpeng Zhao-led crypto exchange – Binance. Being the world’s largest digital asset platform, Binance has provided Coinlocally with the infrastructure needed to have its own crypto Futures platform with 125X leverage. Consequently, Coinlocally will operate as a Binance Exchange Broker.
The company’s aforementioned on/off ramps for crypto and fiat will also be supported by Binance. The team behind Coinlocally promised that Binance will soon provide most of its fiat pairs.
Speaking of the company’s crypto and fiat products, it’s worth mentioning Mercuryo – the entity that made possible the additions of multiple fiat currencies to Coinlocally’s platform, including USD, GBR, RUB, EUR, and others.
Following its roadmap closely, the team also informed that its spot and futures trading platforms are already available for users of both Android and iOS and can be downloaded from the respective online store. Separately, they will be available on Coinlocally’s website too soon.
Built as a cryptocurrency exchange, the company has grown to become a global hotspot for users aiming to enter the digital asset ecosystem. With iOS and Android applications available for both its spot and futures trading platforms, Coinlocally enables users to apply their trading skills, engage with advertisements, and look for the payment method they prefer.