COBINHOOD today announced the launch of a zero-fee, high-frequency cryptocurrency trading platform, allowing anyone to monitor and trade Bitcoin, Ethereum, and COB tokens upon launch.
They also introduced four-time Pro Bowl football player Richard Sherman as its U.S. spokesperson. Mr. Sherman will focus on educating the general population on the future of cryptocurrency.
“A lot of traders are being ripped off in the crypto market, especially on fees,” Mr. Sherman said. “Popo Chen (COBINHOOD CEO) and the team at COBINHOOD are giving anyone with a slight interest or those fully immersed in the space a chance to trade for free and make orders in real-time.”
COBINHOOD’s proprietary order matching engine can process millions of orders with sub-millisecond latency. The system is designed to be fully distributed, highly available, and auto scalable. They store the majority of the crypto assets deposit in an offline multisig vault, which requires five out of eight geo-distributed hardware security modules to open. On the platform, users can exchange fiat currency directly to any coin available.
During its ICO earlier this year, COBINHOOD distributed 244,773,856 COB worth 45,254.9 ETH to 17,433 contributors. The company also launched its underwriting service and signed its first client, CyberMiles. The blockchain technology emerged from 5xlab, 5miles’ development laboratory.
“This emerging market deserves a zero-fee trading platform,” Mr. Chen said. “I’ve seen first-hand how astronomical fee costs can be, it makes day trade almost impossible. Also, with the space needing continued adoption and education, COBINHOOD will become the portal for all traders of any size transaction. I’m very proud of the team’s work both pre and post ICO to bring the platform to life.”