Crypto exchange analysts CEX.IOsummed up the results of work for the first half of 2020.In continuation of the previouspost, which described exchange statistics and some of the factors for the growth of popularitydigital currenciesin Russia, Dmitry Volkov, technical directorCEX.IO, expressed the position of the exchange in an emerging market.
Cryptoeconomics is feeling the impact of the globalcrisis, but not as strong and not as obvious as the traditional economy. Analysts of our exchange noted a number of important reasons why cryptocurrency trading in Russia is gaining popularity. Among them: the availability of acquiring services, bank transfers and electronic payments, as well as the availability of support in Russian.
CEX.IO has a goal and attitude to develop the Russian market. It is not enough to accept the ruble or verify users from Russia. It is necessary to understand what services are in demand in a particular country, understand the needs of the audience and the intricacies of regulations. Many companies in our industry face difficulties in passing compliance control: for this very reason, the ePayments payment system stopped working in February. We have taken legal compliance seriously. Our specialists have extensive experience in interacting with regulators, they are well versed in the specifics of supporting documents and reporting.
In addition, we speak the same language both figuratively and literally: more than half of our employees speak Russian. And, of course, we have a Russian-language Telegram channel.
At the moment, CEX.IO works with four fiat currencies: the US dollar, the euro, the British pound sterling and the Russian ruble. The platform is constantly improving the availability of its products. For example, it supports working with e-money wallets, depositing and withdrawing funds by bank transfers in dollars and euros from Russian banks, as well as payments to bank cards issued by Russian banks - in particular, this service is in great demand by the owners of small mining farms. In the near future, the exchange plans to launch direct bank transfers in rubles for deposit and withdrawal.
Read about the details of the report on the exchange's activities inprevious post.
