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- COSS has reported acquisition by an unknown investor whom they have partnered with.
- COSS hopes to be able to improve its trading ecosystem by adding new functionality and features to its platform while attracting new traders from other markets.
- The company has also specified that its liquidity, stability, and convenience will improve as a result of this acquisition.
After freezing trading, deposits, and withdrawals on the exchange for nearly a month now, COSS has reported acquisition by an unknown investor whom they have partnered with.
The Singaporean exchange reports in a blog post that it initially started off as a fundraising round and ended in the current acquisition with the new partner holding the complete stake in the company.
The blog post mentions that the new investor has “decades of cumulative professional experience in financial technology, trading, exchange platforms, and global markets,” and the company hopes this will turn out to be a strong symbiotic relationship that will propel the company’s vision forward.
COSS hopes to be able to improve its trading ecosystem by adding new functionality and features to its platform while attracting new traders from other markets.
Trading on COSS has also been complemented by their COSS token that uses transaction fees to be split across token holders and provide other shared benefits to the token holder.
This news comes amidst the fact that COSS has taken down for a month before claiming renovations to their platform to bring in new features. All withdrawals, trading, and deposits were frozen, holding up about $2 million in crypto-assets from their 200,000 customers.
The unnamed partner also shares the same goals that the cryptocurrency exchange started with, to a one-stop cryptocurrency solution for all of a customer’s cryptocurrency needs.
They provide an exchange, a wallet that holds a wide plethora of tokens, an ICO platform for launches and promotional trading campaigns, a fiat gateway, a market cap widget, market data, and much more.
The company has also specified that its liquidity, stability, and convenience will improve as a result of this acquisition. Both new and old teams are working together in sync to make this transition smooth and, at the same time, make the renovations that are happening on the platform successful.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
