What signal did the acquisition of Coinbene by a South American company send to the market?
CoinBene was strategically acquired by a South American company in 2020. Based on the M&A agreement, the handover of the management was to take a year. Consequently, in June 2021, the former Coinbene management team officially stepped down and power was transferred to the incoming management. In its early years, CoinBene had built up a formidable presence in the Asia-Pacific region. With the acquisition and subsequent handover, Coinbene’s focus was shifted to encompass the global markets and re-shaping its strategy to actively expand worldwide.
Founded in 2017, CoinBene currently has more than 5 million registered users worldwide and more than 100,000 daily active users. The platform inaugurated with four major features in contract, spot and leveraged trading together with an interest-bearing savings account. Amongst these four functions, the contract trading division did particularly well with more than 30,000 users trading daily at a record trading volume of 1 billion USDT.
We are proud to say that prioritising our users and ensuring a seamless best-in-class experience for our users was the sole reason for Coinbene’s breakthrough in the contract trading division.
CoinBene’s UX has always been created with our users in mind. We devote all our attention to the most minute of details from its depth to its breadth such that our users have the best possible tools to help them profit from using our platform. We provide a simplified and a professional version of our contract trading function, one-click copying, open position profit and stop loss, global multi-position mode, one-click reversal and other product functions. Our platform is always constantly evolving, and we are committed to always revolutionising our products for the best user experience.
CoinBene has always been ahead of other exchanges when it comes to product innovation. We put aside a 10,000,000 USDT insurance to compensate our users should there be any losses caused by our platform’s downtime or due to a pin. Coinbene will compensate 100% of the losses which will be disbursed within 24 hours. This safety net has given our user a peace of mind whilst trading with us.
At the same time, CoinBene understands that the compliance of the platform is of great importance and has obtained the US MSB financial license and the Singapore MAS financial license.
With the first mover advantage in the contract trading sphere, CoinBene’s market share in the Asia-Pacific region has reached 60%.
In line with our focus on expanding our footprint, CoinBene has begun to actively court the global market. We are now strategically deployed in nine countries, supporting multilingual customer service channels such as English, Chinese, Korean, Japanese, Portuguese, and Russian. We are also exploring the digital currency trading market in Latin America, Brazil, Japan, South Korea, the United States and other regions, launching a large number of community activity whilst recruiting global partners to aide with our expansion.
CoinBene is committed to providing cutting edge, best-in-class services to more users around the world while continuing to empower the global blockchain industry.