Southeast Asian blockchain leader - and one of the oldest platforms in the region - Coinhako, now supports a total of 25 cryptocurrencies for Singapore, Malaysia, Indonesia and Vietnam. This puts the total number of cryptocurrency and fiat currency trade pairings at 100 on the platform.
Coinhako, which primarily functions as a gateway to blockchain technology, allows cryptocurrency exchanges with the Singapore dollar (SGD), Malaysian Ringgit (MYR), Indonesian Rupiah (IDR) and Vietnamese Dong (VND). Having only Bitcoin (BTC) and Ethereum (ETH) exchange services at the start of 2018, Coinhako users can now gain access to Bitcoin ABC (BCHABC), Litecoin (LTC), Omisego (OMG), Zilliqa (ZIL), the 0x project (ZRX), Kyber Network (KNC), Status (SNT), Golem (GNT), Basic Attention Token (BAT), QuarkChain (QKC), Waltonchain (WTC), District0x (DNT), Pundi X (NPXS), DigixDAO (DGD), Mithril (MITH), Loom Network (LOOM), Storm (STORM), Binance Coin (BNB), SONM (SNM), Gifto (GTO), Civic (CV), True USD (TUSD).
Coinhako has also added wallet support for Stablecoins such as Paxcoin(PAX), USD Coin (USDC) and Dai Stablecoin (DAI); the platform will add on new cryptocurrency and fiat pairs through the year focusing mainly on emerging markets.
Direct cryptocurrency purchases with fiat currencies remains the quickest method of access to the thousands of available blockchains but such options remain fairly limited. Execution can be very complicated to execute as companies dealing with fiat currencies are subject to more stringent compliance needs. While the number of offerings are increasing, platforms dealing with fiat currencies typically do not have support for more than 4 or 5 cryptocurrencies; platforms that offer wide ranges of token to token pairings would normally offer singular or no fiat currency support, only allow purchases with more widely traded fiat currencies (ie. US Dollars or Euros) or segregate such services to select countries.
To access certain cryptocurrencies, users must make multiple transactions - ranging from FX exchanges, inter-blockchain token exchanges and moving tokens across different platforms - and incur a variety of fees.
Coinhako also officially released its latest referral program where users that refer others to the platform will receive 20% of the trading fee for every cryptocurrency trade that the referred user makes.
Yusho Liu, CEO and co-founder of Coinhako, shared that “Our recent additions to the Coinhako platform not only puts us at the top for variety of cryptocurrency and fiat trade pairings, it also showcases our leading infrastructure and technical expertise of the team. With more cryptocurrency listings and services extensions to other Asian countries in the pipeline, we are certain that Coinhako will play a crucial role in improving access into the blockchain ecosystem in the region.”
Founded in 2014, Coinhako is one of the longest-standing digital token wallet services in the Southeast Asian Region. Established by blockchain industry experts Yusho Liu and Gerry Eng, the firm seeks to improve the access to blockchain technology for daily consumers in Singapore and the greater Asia-Pacific, specifically emerging markets. Headquartered in Singapore, the firm is backed by prominent investors such as Tim Draper and Josh Jones as well as established venture capital firms such as Boost VC.