Singapore’s latest exchange, CRXzone, has become the first platform to offer both litecoin and bitcoin trading in the country. Like others in the Asian region, the exchange aims to attract an international customer base by offering additional bitcoin services beyond trading.
One of CRXzone’s key strategies to attract a wide customer base is its range of account funding and withdrawal options. As well as the usual bank transfers, the exchange offers international payment processor options like OKPAY, Egopay, and PerfectMoney.
CRXzone CEO Pawan Kumar tends to refer to other payment networks as ‘digital currencies’ too, blurring the line somewhat between cryptocurrencies and widely-used international payment networks. This is probably due to his 25-year experience in the IT industry, experience with online businesses and involvement in digital payment networks “since the time of E-gold”.
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While all offer speed and cost advantages over traditional currencies, Kumar said that bitcoin’s decentralized nature made it an attractive option. “I personally feel […] bitcoin will slowly takeover all other digital currencies and remain a useful tool for digital payments which are growing day by day.”
One of CRXzone’s selling points is its litecoin trading option, despite the popular altcoin’s image taking a battering following its recent price slump to $5 and lower. “We still believe that litecoin will survive the current downward trend. It is well known and widely used crypto after the bitcoin [sic]. Leverage trading seems to be a reason for the current price slump, as per my personal judgement.”
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