Secure, self-custodial Telcoin App now offers trading that flows through TELx, enabling users to capture fees instead of institutions.
SINGAPORE, Feb. 18, 2022 /PRNewswire/ — Telcoin Pte. Ltd., a decentralized financial technology platform bringing blockchain-powered financial services to consumers worldwide, now offers digital asset trading within the Telcoin Application. “Trade,” launching today in version 3.1 of Telcoin’s official iOS and Android apps, aims to become the easiest and most affordable way for users to trade cryptocurrencies across decentralized finance (DeFi) protocols. Users across the globe can now trade TEL and 10 additional tokens with just a few taps of their smartphone.
“We’re thrilled to finally put 3.1 in our users’ hands, which we believe is the simplest way to trade digital assets on DeFi,” says Paul Neuner, Telcoin CEO. “Our goal has always been to offer an easy yet secure way to self-custody assets and engage in decentralized financial products powered by user-made markets. We are helping people bank themselves and others in a secure and compliant manner, which is also the cheapest. This new version is a major step in that journey.”
Telcoin previously enabled the migration of its self-custodial digital asset wallets to the Polygon Network, a popular scaling solution for the Ethereum blockchain. Along with the ability to store multiple assets, this move to Polygon also enables Telcoin trades that cost pennies instead of dollars or tens of dollars. Trades in the app flow through TELx, the Telcoin platform’s decentralized liquidity engine, where users who provide liquidity in the form of tradeable asset pairs can earn a share of transaction fees and reward tokens.
The 11 digital assets currently available for trade include TEL, WBTC, WETH, USDC, AAVE, BAL, QUICK, DFX, CADC, EURS, and XSGD. Additional tokens will be added at regular intervals, as Telcoin aims to provide an intuitive and low-cost alternative to existing centralized exchanges.
In addition to securely storing and trading digital assets, the Telcoin app also offers best-in-class digital fiat remittances from the United States and Canada to 24 mobile money platforms in 16 countries. The company aims to bring these two worlds – traditional fintech and the burgeoning crypto economy – together in future releases that give users everywhere the most affordable personal financial product at their fingertips.
Telcoin is headquartered in Singapore, where it is licensed as a Major Payment Institution.