The collapse of several prominent centralized cryptocurrency exchanges in 2022 which left thousands of investors stranded has led to a heightened interest from regulators. In many countries now, exchanges are required to follow more stringent guidelines and licenses to operate within their borders.
Meanwhile, Crypto.com, a prominent player in the crypto industry, has recently secured a license to operate in Singapore. Meanwhile, Tradecurve, a hybrid exchange, is seeking to amass more licenses after its launch. Tradecurve is currently in the third phase of its token presale and the interest from investors has been massive.
Crypto.com Secures License in Singapore
Crypto.com, a cryptocurrency exchange headquartered in Singapore, announced on June 1st that it had obtained a license as a payment institution from the Monetary Authority of Singapore (MAS) to provide digital payment token (DPT) services to its users in the country.
The MAS, which acts as Singapore’s central bank and primary financial regulatory body, is charged with the responsibility of overseeing and enforcing legislation pertaining to money, insurance, securities, banking, and the broader financial sector, including currency issuance. This announcement comes after Crypto.com received in-principle approval from the regulator last June.
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Moreover, the latest license is an addition to Crypto.com’s track record of securing regulatory licenses. Over the years, the exchange has been granted registration as a crypto asset business by the United Kingdom’s Financial Conduct Authority and a digital asset service provider by the Autorité des Marchés Financiers in France.
Tradecurve (TCRV) Eyeing Expansion Into More States Upon Its Launch
Tradecurve, a new crypto exchange platform is seeking to rival Crypto.com and other centralized exchanges for total market share. While Crypto.com has scored licenses in several states, Tradecurve’s crypto platform is offering an innovation that can boost its chances of licenses in more states. Tradecurve is an innovative hybrid exchange that aims to solve various limitations faced by traders within the crypto industry.
Unlike centralized exchanges such as Crypto.com and Gemini, traders and investors can use Tradecurve without the need for Know-Your-Customer (KYC) registration. This will give individuals from anywhere in the world the opportunity to access the Tradecurve platform and all the services it offers without any restrictions. Furthermore, Tradecurve offers one of the lowest fees in the trading industry.
Through Tradecurve, users can trade different assets including CFDs, stocks, futures, and forex. Also, Tradecurve’s utility token, $TCRV, has several benefits. $TCRV holders enjoy several benefits such as VIP access and reduced trading fees. Other benefits include access to automated trading systems integrated with artificial intelligence, as well as a trading community where they can engage with professional traders and learn from them.
Currently, in the third phase of its presale, TCRV is valued at $0.015 per token. TCRV has already recorded remarkable price increases, jumping by 25% as it entered the third stage. Interestingly, market analysts and experts anticipate a potential 50x increase during the presale phase, with an additional 100x increase anticipated at launch.
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