CoinArmy Project Solves Problems Of International Trading With Crypto
The trading and financial technology company CoinArmy has built a digital asset exchange focused on the needs of professional traders and digital currency experts. The team was aimed at solving problems of the insufficient banking system during the international trading.
The existing banking systems simply cannot keep up with the speed of modern business. Amazon is able to deliver packages to customers the same day, but no bank can manage that with an electronic wire transfer. And it’s not just speed and volume that are problematic, but also cost. Cross-border payment fees have increased two-fold since multinational companies moved away from commercial banking following the financial crisis and set up their own banks.
Proponents of cryptocurrency have long claimed Bitcoin could solve these problems. But blockchain itself has some obstacles like the scalability, liquidity problems, and lack of systematic acceptance by traditional financial organizations and enterprises.
Most crypto exchanges do not even offer cryptocurrency pairs against national fiat currencies. CoinArmy has developed a solution for every component of cross-border payments. This creates unprecedented trade opportunities between Europe and Asia, where the majority of currencies are non-deliverable.
The system allows any digital token to be linked with national fiat tokens, creating a seamless connection between cryptocurrency and fiat.
“The day only has 24 hours and we often need more hours, to address the great client demand in cross border payments. Interestingly, regulatory licenses, have been an accelerator for us, unlike what popular believes are. The next step of client onboarding could also be a major challenge, because of the roaring demand for CoinArmy service. China is building the One Belt One Road, CoinArmy is building the payment infrastructure to support it”, — Erol User, the Chairman of Coinarmy, quoted.
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