MUMBAI: Koinex has announced the launch of its new product Loop, a peer-to-peer trustful token transaction network, which will be available from July.
"This is the first time that a P2P trading network has been introduced by any exchange in India, whilst even globally there are very few exchanges who have the technical scale and capability to efficiently run such a network. This network will allow traders to legitimately continue to trade their tokens in the light of the current uncertainties in the market," a company statement said.
"Digital assets hold immense value (both economically and technologically) but unfavourable regulations pose a threat to the investments made into digital assets. Loop is a whole-hearted effort to ensure that the legit and verified investments made by Indian investors' don't turn into dead assets. During this tough time, while there are sincere efforts ongoing for formulating regulations for the entire industry, Koinex offers a one-stop solution to keep the industry alive with the release of Loop," said Rahul Raj, Co-Founder and CEO, Koinex.
Loop will be bundled directly into the Koinex web platform and the mobile app. All current users of the exchange will automatically be able to access the Peer-to-Peer transaction network and will be able to participate directly, the statement said.
"Loop allows honest investors and traders to safeguard their investments from scammers and Ponzi schemes for digital assets exchange. We have worked out the mathematics and economics to create a perfect blend of transaction and trade, without compromising on the seamless experience that users are accustomed to on Koinex. Combining the principles of decentralisation, trust, security, data privacy and ease-of-use, Loop will complete the full circle for digital assets trading in India," said Aditya Naik, Co-Founder & CBO, Koinex.