Jack Yeu Reveals Switcheo Will be the First ETH/NEO Trading platform

  • First ever decentralized exchange based on NEO to offer integrate features to support both ETH and NEO trading systems
  • Switcheo Network currently has 37 active trading pairs

Switcheo Network co founder Jack Yeu has announced that the NEO-based DEX platform is set to become the first ever ETH/NEO trading platform, offering services to support both frameworks with an all new trading interface and a new ERC-20 non-custodian trading platform to support Ethereum-based tokens.

New Switcheo Interface

In a blogpost, Yeu explained that the new Switcheo DEX platform will improve on its already intuitive nature by adding new features to boost user trade efficacy, including a new wallet manager that will enable users to manage and trade their tokens and digital assets across blockchains seamlessly.
He revealed that in the runup to the launch of the new platform over the coming few weeks, Switcheo will carry out periodic previews of the improvements and new features that will come with the update. According to Yeu, the changes and improvements were made in response to requests and feedback from active users and members of the Switcheo community.

He explained:

Many of the changes made have been requested by our most active traders, and we are confident that this update will be very well received by all users.

Switcheo’s Growing Profile

In April, CryptoGlobe reported that Switcheo went live as the first decentralised exchange on the NEO blockchain, reportedly seeing a $2 million daily trading volume during its first week alone. After raising about $8.5 million in its ICO, Switcheo’s developers promised to devise a framework for implementing cross-chain functionality, which seems to be taking place now.

When the update goes live, holders of NEP-5 tokens based on NEO will be able to interact seamlessly with ERC-20 token holders, effectively forming a cross-chain link between Ethereum and NEO. Currently, there are 37 live trading pairs on the Switcheo platform, including trading pairs with NEO, GAS and its native SWH token.

XRP Trading Now Available to Customers of Huobi Marketplace in USA and China

On Thursday (April 18), Huobi Marketplace (formerly known as "HBUS"), the cryptoasset exchange operated by San Francisco-based company HBUS Holdco, Inc. ("HBUS"), the exclusive U.S. partner of Singapore-based Huobi Global Limited (“Huobi Global”), announced that XRP trading had become available on Huobi.com.

The Huobi Marketplace originally went live under the "HBUS" brand on 10 July 2018. Initially, trading was only available in Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), Tether (USDT), Civic (CVC), Dash (DASH), and TrueUSD (TUSD). By 29 November 2018, 12 cryptoassets and 35 trading pairs were supported. 

Then, on January 11, HBUS published a blog post in which the company's CEO, Frank Fu, said that HBUS had "obtained exclusive rights to use the Huobi brand in the U.S." and changed the name of its marketplace (i.e. crypto trading platform) from HBUS to Huobi. HBUS also said that it had migrated "from its previous website (www.hbus.com) to the new domain at www.huobi.com."

In a press release issued on the same day, which was also posted to its blog, HBUS explained that it would continue to be "the company operating the U.S. trading platform," while Huobi Global, Huobi Group’s flagship digital asset exchange, would continue "to operate under its own name at hbg.com."

Here is how HBUS explained the advantages of this strategic partnership with Huobi Global:

"The exclusive licensing agreement and partnership gives HBUS a reputable brand to provide U.S. traders with localized trading experience. A closer relationship also means more technological support from Huobi Global for HBUS, which will provide advanced stability and security features."

Thursday's announcement by Huobi Marketplace informed customers that in order to provide them with "carefully vetted and high-quality trading options," it was adding support for XRP:

"Starting now, you can deposit XRP on the Huobi Marketplace, and the estimated opening time for XRP trading and withdrawals will be April 19th, 2019 at 12:00AM PST. Supported XRP trading pairs include XRP/USD, XRP/BTC and XRP/USDT."


Featured Image Courtesy of HBUS