Bitcoin press release: The giants of Blockchain, Arax Wallet and COSS are merging to create a "crypto one-stop solution", with the token exchange that will take place on June 25, 2019.
June 16, 2019. Singapore.- Arax, a fintech and blockchain startup in Singapore, merged with COSS, one of the most established cryptocurrency exchanges in Singapore. The unified brand will be known as COSS - Crypto One Stop Solution. The merger also results in what is the world's first token merger, a merger of the COSS and LALA utility tokens, to form a super-token that will be an asset that will combine all the characteristics of its main tokens.
In the COSS + LALA token exchange update, the companies announced that they will adopt the Crypto One Stop Solution brand with the vision that the merged product stack will become one of the largest digital asset ecosystems to take shape in all the world. Users can trade, store, make transactions and spend their digital assets from a single platform with a single identification, which makes the mass adoption of digital assets a reality. The merger also brings together the experience and resources of both companies to become a fast-growing fintech Asian startup with offices in Singapore and India.
COSS believes that its token currently exceeds all existing exchange tokens in the market, in terms of potential profit, and that the merger will add significantly to that profit, adding more blockchain support. Arax offers a multi-digital asset storage and asset product that supports multiple block chains, a set of features larger than other portfolios of digital assets currently in existence. Users maintain full control of their private keys while they can send, receive and spend digital assets in daily utilities such as compatible global mobile top-ups in more than 160 countries, have access to instant digital asset sharing, make GPS-based transfers between a series of other services ready for launch.
Launched in mid-2017, COSS has the vision to become one of the best digital asset platforms: a unique solution for everything related to cryptocurrency. The platform currently has a stack of functions to support an intelligent electronic wallet management system enabled for smart contract, support for 5 stablecoins, an infrastructure to support ICO launches, fiat payment gateway for international currencies, a list of more than 90 digital assets listed and providing a single rate Split allocation feature (FSA). FSA allows card holders to receive 50% of all commercial commissions generated by the exchange, distributed through a DAO (Decentralized Autonomous Organization); a true use of blockchain while attending the needs of the interested parties first. The company is also preparing to launch its IEO platform in the coming weeks. COSS is a member of the Fintech Association of Singapore and the Ethereum Enterprise Alliance.
Singapore is known for its global reputation as one of the most important financial technology ecosystems. The government has supported and continues to support innovation while developing a modern regulatory environment. This has led to the launch and growth of hundreds of new financial technology companies that develop products backed by the latest technologies. This merger brings two strong members of Singapore's fintech ecosystem together to become a versatile platform for digital assets in the rapidly expanding industry.
The new COS token combines the usefulness of what used to be two separate tokens, with their own set of characteristics, in a super token that feeds an ecosystem: the ecosystem of the Crypto One Stop Solution.
The new COS tokens will have the following existing utilities, as well as the following:
Fee allocation allocation (FSA): all COS token holders receive a 50% division of the total commercial rates that COSS charges daily, according to their holdings.
Discounts on trading rates: merchants can pay the trading commissions in COSS.io using the COS token to obtain a discount on the usual trading rate.
Features, utilities, promotions and discounts of COSS Wallet: you can use your COS and other balances in the COSS Wallet application to make GPS-based transfers, mobile credit top-ups, earn reward points and access a large number of other functions. that are being built in it.