Quoine: World’s Most Advanced Bitcoin Trading Platform!

Quoine: World’s Most Advanced Bitcoin Trading Platform!
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-Quoine, a Singapore startup which is currently largest Bitcoin exchange has raised US $16M from JAFCO, a Japanese Investment Fund.

Quoine begun its operation in 2014 in Singapore with partners from Japa and other key markets. Quoine has seen significant growth till date. They are primary trading platform for Bitcoin and other Cryptocurrency. The core team comprise of seasoned banking professionals who are well experienced in Banking Products like commodities, Fixed income, etc. and are well aware of regulations, operational risks, and IT security.

Quoine plans to use the raised fund setup and make Japan their headquarter. At present there are a lot of developments in the Japanese market with huge push to define regulations and increase the compliance in domestic digital currency market.

So, what are these Cryptocurrencies, Bitcoins, Ethereum?

Cryptocurrency: A digital currency which uses encryption techniques to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank. They are designed on the principal of Cryptography. (Source: Google)

Bitcoin: One of the most popular Cryptocurrency which was launched in 2009. The system is peer-to-peer and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes and recorded in a public distributed ledger called the block chain which uses bitcoin as its unit of account. (Source: Wikipedia)

Ethereum: Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference. These apps run on a custom built blockchain, an enormously powerful shared global infrastructure that can move value around and represent the ownership of property. (Source: Ethereum Project)

At present, Quoine provides trading platform for Bitcoin and Ethereum.

Key People:

Mike Kayamori: Mike has recently joined as CEO. Prior to this, he was associated with SoftBank as Senior VP.

Mario Gomez Lozada: Mario is the cofounder and has held position of CEO for brief period and later moved to take up role of CTO so that he can focus more on System Development.

As per Mike Kayamori, Japanese FX trading market is about $50 trillion and he predicts cryptocurrencies can easily replace 10% of these transactions in future.

Key References: Quoine, pymnts, coindesk.

About the author

ayushi jain

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