Covesting, a cryptocurrency exchange and trading platform, announced on Tuesday the first listing on the platform. According to Covesting, DigiByte token becomes the first ever listing under the supervision of Covesting and GFSC. Covesting explained:
“DigiByte (DGB) is a rapidly growing global blockchain with a focus on cybersecurity for digital payments & decentralized applications. Over 5 years, DigiByte has become the world’s fastest, longest and most decentralized UTXO blockchain today.”
Founded in 2017, Covesting is described as a cryptocurrency exchange and a trading platform that offers a complete and secure infrastructure for investors and traders. The launch of the DigiByte on the crypto platform comes less than six months after Covesting received its Distributed Ledger Technology License (DLT) from regulatory authorities in Gibraltar.
Covesting reported that the DLT License puts its exchange in a unique and strategically advantageous position within the cryptocurrency markets, as it will make the exchange significantly more likely to onboard institutional clients and high-net-worth individuals who want to invest on a fully regulated platform. At the time, Covesting’s Founder and CEO, Dmitrij Pruglo, stated:
“Receiving a DLT Providers license is a huge milestone for us as a company and as a community. To establish a new standard for crypto exchanges, to work in a regulated environment, to use the best practices, and to set a new industry benchmark are the goals we defined for ourselves at the very beginning of our journey. We are happy to be incorporated and licensed in Gibraltar, a jurisdiction in which the industry is supported by the government and service providers.”