CriptoHub, a Brazil-based cryptocurrency exchange and recently referred to as the “Binance of Brazil” in Forbes magazine, announced it is launching live services on August 7.
In anticipation of the live launch, CriptoHub also said it is closing its initial coin offering (ICO) on Friday, July 27.
The new exchange will feature order book integration from the major exchanges Kraken and Bitstamp. Initially, 20 Bitcoin and altcoin trading pairs will be available. CriptoHub promises “withdrawal fees of less than half of the competition” and an affiliate program.
For now CriptoHub will be available in South America and will offer the following cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Monero (XMR), Dash (DASH), Ripple (XRP), Iota (IOTA), Decred (DCR), NameCoin (NMC), PeerCoin (PPC), OmiseGo (OMG), SmartCash (SMART), Storiqa (STQ), USD Tether (USDT), and AllVor (ALV).
During the ICO, CriptoHub was accepting investments from non-US & US Institutional and Accredited, High Net-Worth Investors.
“We’ve had a successful capital raise so far, bringing in approximately $3 million in USD (approximately R$12 million) in a very tough ICO market,” said CriptoHub CEO Ramon Vailatti. “Now it’s time to give back to the Brazilian people by providing the lowest trading fees and best customer service we’ve ever experienced in Brazil.”
According to Vailatii, the next step in CriptoHub’s plans is to list many South American and worldwide coin projects. The company will also seek strategic investment to expand the exchange and build banking infrastructure.
Cryptocurrency trading is fairly popular in Brazil, with several local exchanges – Mercado Bitcoin, Foxbit, Braziliex, Bitcoin to You, BitCambio, FlowBTC, as well as some international ones well represented. More recently, Huobi announced plans to launch operations in Brazil.
According to estimates in 2017 the Brazilians traded $2.4 billion worth of crypto, up 1400% from the preceding year.
This article appeared first on Cryptovest
