Crypto P2P exchange startup Openmonet to provide innovative solutions to fasten the fiat-to-crypto exchanges
- Guest Posts
- August 28, 2020
Openmonet is a Crypto exchange and electronic trading startup that brings innovative solutions to speed up the fiat-to-crypto exchanges among other blockchain tech applications.
Blockchain technology is one of the hottest trends today, especially with Europe’s General Data Protection Regulation (GDPR) being implemented recently. The crypto industry is seamlessly growing in value and importance. There are currently about 2.5 million products from reputable merchants across the globe that can be bought with the use of bitcoin today. Several business sectors, companies in healthcare, financial services, agriculture, and other entrepreneurs and solopreneurs are rushing to adopt the blockchain technology and secure their financial transactions.
Keying into this trend, Openmonet—on a mission to provide people a new level of financial freedom with innovations—came with some unique points and innovations. Chief among them is the no communication between buyer and seller policy on Crypto exchanges(everything done automatically). The company designed an algorithm that automatically selects the best offer for the buyer and seller and a widget, which can be built into existing crypto exchanges to increase their liquidity, speed, and fiat currencies amount, which can be used to replenish the deposit on the exchange to trade crypto.
The company, under the leadership of its founder, Serial Entrepreneur, and Crypto Evangelist, Sergey Makarov, has the vision to build the financial ecosystem based on cryptocurrencies. They are on a mission to offer the best services to 3 billion people who don’t have access to original financial services: loans, deposits, money transfers, and any arts of currency conversions. Sergey Makarov is also an IT Specialist. Nine years of entrepreneurial experience in the lending area, six years of experience in IT. He’s also the founder of “Stanzia” startup, Joint Venture of Tinkoff, and Alpha Bank (startup was sold).
Openmonet, replete with a team of dedicated staff, hopes to satisfy its clients with hard work, speedy response, and exceptional UX. Speaking about their services, Sergey Makarov said: “We plan to focus on innovations, which significantly improve UX of our users. We already practice fully innovative products and innovative sales strategies to enter the market by connecting our widget to the main crypto exchanges. We will continue to improve ourselves and our success, implementing key innovations faster than others. To keep it even in the future, we will stay agile, fast, and will hire the best specialists in the industry.”
The company plans to introduce its mobile app for iOS and Android in the next six months. However, in the first row, they made best-in-market web-application, which works extraordinarily well in all browsers, and on all devices.
Openmonet is also planning to expand its services. Plans are already in motion to add all popular cryptocurrencies, and the company will provide the possibility for instant crypto-to-crypto exchange. All these set be achieved in the next step.
Openmonet, which is registered in Hong Kong and is fully compliant with the local regulations and laws, has made extensive efforts to set up a reliable and robust security apparatus on its platform.
The company implemented the traditional escrow system to protect its users. On customer complaint resolution, Sergey said: “We provide support to our users in a minute to be able to react to disputes immediately. With quick support, we want to satisfy our users with the best service. To avoid the circumstances, we use the asymmetric key authentication cryptography for exchanging information and symmetric encryption to preserve the confidentiality of authentication codes.
Continuing, Sergey said: “Instead of using the password system to access the system, we use only one-time pin codes without any traditional passwords which can be accidentally be saved in the browser or can be hacked. 97% of all crypto’s from our users are saved to a cold wallet with no access to API”.
Though still in its early days, Openmonet, with its vision, mission, and innovative services, look set to take the world of Blockchain tech by storm.