Coinhako

Coinhako

Coinhako is an exchange platform for digital assets, headquartered in Singapore.  The platform brokers the trading of Bitcoin, Bitcoin Cash, Ethereum, XRP, Litecoin, Zilliqa, and a range of other cryptocurrencies, with local fiat currencies of countries across Southeast Asia.

Coinhako has expanded its trading and wallet services to multiple countries in Asia over the years, and is currently most well known for it’s Singapore Dollar (SGD) and Vietnamese Đồng (VND) trading pairs cryptocurrencies. The company has offices in Singapore and Ho Chi Minh City, Vietnam.

History

Coinhako was founded by Singaporean entrepreneurs,Yusho Liu and Gerry Eng in 2014. The platform was originally created as a solution for easy access to Bitcoin for Singaporeans,and serves a key access point to multiple cryptocurrencies in the Southeast Asian market today.

The founders were part of Boost VC in 2014, an internationally-acclaimed blockchain incubator in Silicon Valley, California. Shortly after the incubator programme had concluded, the co-founders of Coinhako received investments from prominent angel investors including venture capitalist Tim Draper, who is known for his  investments in other companies such as Coinbase, Tesla, Baidu and Twitter, and Josh Jones from Dreamhost.

In December 2014, Coinhako’s founders made their return to their home country of Singapore, where they received a $50,000 grant from the Infocomm Media Development Authority of Singapore, a statutory board of the Singapore government, under the Ministry of Communication and information, and Coinhako was awarded a winning position at the inaugural Blockchain hackathon organized by DBS Bank in Singapore, in May 2015.

By June 2015, Coinhako onboarded its first 1000 users on its platform providing Bitcoin trading services with the Singapore Dollar (SGD).

Since then, Coinhako has embarked on a series of expansions to their product offerings, having launched its first country expansion in Malaysia in 2016, providing Bitcoin trading services with the Malaysian Ringgit (MYR) – which ceased in May 2019 – and opening fiat currency trading with Ethereum as its 2nd cryptocurrency offering after Bitcoin, in May 2017.

In late 2018, Coinhako launched its cryptocurrency services for Vietnam, offering cryptocurrency trading with a tokenized version of the Vietnamese Dồng, Vietnamese  Dồng Token (VNDT) – which is funded when Coinhako Vietnam users send fiat VND to their Coinhako account.

Coinhako became the first cryptocurrency platform in the world to offer at least 100 fiat-crypto pairings in 2019.

Products and Services

Coinhako offers trading, wallet and customer experience services for users.

Coinhako trading services include:

1. Buy and Sell

Coinhako’s buy and/or sell functions allow registered users to trade Bitcoin, Ethereum, and all supported cryptocurrencies with asian fiat currencies.

1. Swap

Coinhako’s swap function allows registered users to make a crypto-to-crypto trade for all supported cryptocurrencies on the platform.

Coinhako wallet products include cryptocurrency wallets with which users can store their cryptocurrency holdings. Users of the platform can also send and receive cryptocurrency into the wallet. The wallet facilitates the storage of cash balances, deposits and withdrawal of supported fiat currencies.

As of 2017, more customer experience products were introduced with the intention of improving the overall experience. Current features include cryptocurrency live price charts and a live cryptocurrency news feed, loyalty programmes and customer support via an online ticketing system.

References

This article "Coinhako" is from Wikipedia. The list of its authors can be seen in its historical and/or the page Edithistory:Coinhako. Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.

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