Concordium launches CCD token for trading on Bitfinex and BitGlobal
Powering the ecosystems built on Concordium, with a special focus on Regulated DeFi and Decentralized Fintech, the CCD token was classified as a payment token by the Swiss Financial Market Supervisory Authority.
Concordium has listed its native CCD token on Bitfinex and BitGlobal in a move that is expected to strengthen the public, proof-of-stake blockchain with a built-in identification layer to meet the regulatory requirements.
Available for trading on Bitfinex from today onwards and on BitGlobal starting tomorrow, CCD can be used as a means of payment on applications using the Concordium technology as well as paying transaction fees to the validator nodes that process transactions and secure the network, with fees being known in advance and stable in Euro-terms.
FINMA classified Concordium’s CCD as payment token
Powering the ecosystems built on Concordium, with a special focus on Regulated DeFi and Decentralized Fintech, the CCD token was classified as a payment token by the Swiss Financial Market Supervisory Authority.
This means it is suitable to be used for on-chain settlement of transactions, collateralization, and all other use-cases applicable in Decentralized Finance (DeFi).
The Concordium Foundation’s upcoming fair governance structure will help the project evolve over time with the participation of CCD holders, who will have on-chain voting powers.
Concordium differs by offering nearly instantaneous, real finality with low transaction fees, stable in FIAT terms, expressed in CCD.
The Concordium platform supports a wide range of applications such as tokenization, Regulated DeFi and decentralized platforms as well as secure sharing of data, NFT marketplaces, royalties tracking, payments and real-time IoT operating systems. The CCD will also be used for paying the baker rewards and finalization rewards to Bakers and Finalizers.
Copper as the first custodian for CCD
Just before launching on Bitfinex and BitGlobal, Concordium tapped Copper.co for its digital asset custody and trading solutions.
Copper.co is now the first institutional custodian for CCD and will support staking solutions for CCD and provide sophisticated and secure cross-exchange trading infrastructure for effective and fast management of crypto assets.
The Swiss-based blockchain foundation has built a decentralized ledger with identification at the protocol level which helps facilitate greater regulatory compliance. It offers both transactional privacy and regulatory accountability.
Copper already services more than 400 institutions as a custodian for their crypto assets. The firm currently supports over 450 tokens.
