New crypto exchange to be launched in Cayman Islands
A new cryptocurrency exchange is coming to the Cayman Islands. According to a press release by Cayman Islands Investment Group (CIIG), the exchange has been in the works for more than a year and is finally ready to be launched. The new trading platform comes as the Cayman Islands government is diligently working to clean up its financial image.
Cryptocay.ky will be managed by CIIG Technologies, the technology division of CIIG. The exchange will be available to both professional and retail traders from anywhere in the world and the company’s head of marketing and promotions, Malcolm Hurlston, explains, “We want to be more than just another exchange, we want to help educate those that haven’t taken the dive into the Cryptocurrency world. We want to become the Cryptocurrency Hub of the Caribbean.”
The platform will initially support digital currencies such as Bitcoin Core (BTC), Ether (ETH), Ripple (XRP), Litecoin (LTC) and others. It will offer limit orders and market orders and will include 25 trading markets when it first launches. As the exchange matures, more markets could be added, according to the company.
CIIG further explains, “Cryptocay.ky will have a fully dedicated privacy and security system that will protect both the user and their assets. User safety is priority for Cryptocay.ky, with the same integrity and accuracy that is applied to the Cayman banking industry being applied to the platform. Trustworthiness, clarity and security are core values that every Cayman Islands Investment Group company will be based on.”
The CryptoCay website indicates that the company will be employing a fully integrated Know Your Customer (KYC) suite of tools that are “backed by state of the art countermeasures.” Servers will be kept off site and are monitored 24 hours a day by a dedicated team to offer better security.
CIIG is a relatively new e-commerce company, having only been founded last year. While there are a number of crypto exchanges already available, having a base in the Caribbean nation gives it a little greater flexibility in attracting a truly international clientele. Cryptocay.ky is going to offer a range of products and services and CIIG hopes that it will help increase the commerce possibilities in the Caribbean region.
Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as SegWitCoin BTC coins. Altcoins, which value privacy, anonymity, and distance from government intervention, are referenced as dark coins.
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