Covesting Licenses its Crypto Trading Solution to Prime XBT

European digital assets exchange Covesting has signed its first B2B partnership with another cryptocurrency trading platform, Prime XBT, to integrate and license its technology and utility token.

Covesting’s COV token will be integrated into the PrimeXBT's crypto trading infrastructure and become an essential part of the copy trading experience.

Founded in 2018, Prime XBT offers leveraged trading, real-time market data, and analysis tools across a wide spectrum of crypto assets.

Covesting’s technology allows everyday investors to search and ‎compare the performance of hundreds of proven cryptocurrency traders and mirror their trades automatically. ‎Simultaneously, the Covesting platform helps investment ‎talents bring their results to light by competing with ‎other traders in an equally fair environment.‎

The platform’s native COV is an ERC20 utility token built on Ethereum Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term and designed to be used within the Covesting’s ecosystem. Thus, demand for COV tokens correlates with the trading volume and activity on the platform.

The new partnership builds on Covesting’s previous milestones, which included its initial-coin-offering (ICO), the deployment of its Crypto Intelligence Portal, as well as its recruitment strategy that saw veteran Saxo Bank executives, Kurt Carlsson, and Peter Kristenson join its ranks.

Gibraltar’s Blockchain License

Also in November, Gibraltar’s regulatory authorities granted Covesting its bespoke license for blockchain firms to offer cryptocurrency trading services in the British overseas territory.

Covesting was initially started by Dmitrij Pruglo, as well ‎as several other ex-Saxo Bank managers who collectively ‎boast an extensive background in FX, equity, and ‎derivatives trading. Their platform aims to bring ordinary ‎investors who do not have the time or tech knowledge to ‎invest in Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term, facilitating the ability to invest ‎intelligently in a booming new market.‎

Commenting on the news, Covesting CEO Dmitrij Pruglo said: "PrimeXBT is one of the fastest growing startups in the crypto industry, offering among the best platforms for competitive trading conditions. We firmly believe our copy trading module will be extremely beneficial for PrimeXBT platform, which allows trading with 100x leverage across a variety of digital assets."