ETERBASE, the European cryptocurrency exchange with a focus on regulatory compliance, is now pre-listing 30 cryptocurrency projects as additions to its new platform. Potential projects will have to fill out the application form in order to gain approval and pass basic KYC requirements.
The whitelisting process
The new additions are to give the appropriate information via the online form (founder, audit, legal opinion, ICO etc.) and the due diligence process will take up to 4 weeks for verification. After being whitelisted, the companies will transfer the equivalent of 300 ETH in the token swap. In return, 300 ETH worth of the ETERBASE (XBASE) token is returned, and the swap has been completed. At present, security tokens are not being listed.
The stated benefits of adding the token to the ETERBASE exchange include increased liquidity, a fast trading engine, immediate BTC and ETH pairings, stability, durability, regulation, and access to the exclusive ETERBASE early adopter program.
The early adopter program is said to come with its own set of advantages, such as the tiered membership program. Premium ETERBASE members will enjoy 24/7 customer support, multiple portfolio management, zero-fee trading, 75% withdrawal reduction and masternodes. Pre-listed members automatically become ETERBASE premium members, with the above benefits.
What is ETERBASE?
ETERBASE is headquartered in Liechtenstein, Europe, a blockchain regulatory hub. It is aiming to be the first fully regulated exchange, primarily through the acquisition of an Electronic Money Institution (EMI) license. This will enable it to distribute international bank account numbers (IBANs) to customers and operate in the SEPA payments area. It will perform the services of a bank, and be fully regulated, while offering cryptocurrency trading services and debit cards to customers. The trading of digital assets across 31 countries will be authorized with the EMI license.
The level of compliance will be on a par with corporate financial institutions, which will bring the cryptocurrency exchange industry one step closer to complete legitimacy.
The ETERBASE exchange is designed to be suitable for both beginner and experienced investors, focusing on usability as well as regulatory compliance and security. It is regarded as the first of a new wave of cryptocurrency exchanges, offering a range of services as opposed to just the ability to trade cryptocurrency.
Financial analyst, smartphone app designer, technical writer, and crypto enthusiast. Blockchain verified graduate of MOOC 9, DFIN-511: Introduction to Digital Currencies, run by the University of Nicosia.