BY CNA Team - October 10, 2018
Special Features 0
Singapore-based EurekaPro launches fiat-to-crypto exchange, focused on Southeast Asian fiat currencies
Singapore-based exchange EurekaPro has launched in Singapore as a South-east Asian focused fiat-to-crypto exchange.
EurekaPro says it offers the widest Asian fiat-to-cryptocurrency support, allowing holders of the Singapore dollar, Malaysian ringgit, Indonesian rupiah, and other Asian fiat currencies to seamlessly transact on its exchange.
EurekaPro has already launched an open public beta with over 8,000 users have signed up in its first week.
According to its press release, the EurekaPro exchange offers both security and convenience, with two-factor authentication (2FA) and secure wallets as well as 24/7 operability and real-time transactions.
In conjunction with its exchange, EurekaPro is offering the EurekaPro token (EKT), an ERC-20- compliant token (Ethereum Request for Comment -20,which is a technical standard used for smart contracts on the Ethereum blockchain for implementing tokens).
“EKT will provide maximum utility and convenience to the consumer through its compatibility with third-party services, wallets, and other exchanges, giving consumers ease of use and other beneficial functionalities,” the statement said.
The project is led by a team consisting of Junus Eu, Douglas Gan and Kin-Wai Lau.
“Our platform represents a unique proposition for the blockchain space in Southeast Asia, by removing or reducing entry barriers to the crypto market that may otherwise prevent consumers from adopting blockchain technology. Blockchain holds untold potential for a diverse range of applications, and at EurekaPro, we aim to empower consumers with two things: the knowledge to harness the potential of blockchain through our online education platform; and the means to break into the crypto market by making fiat-to-crypto transactions easier than ever before,” said Eu, the platform’s co-founder and CEO.
She added: “With a combined population of 655 million and a rapidly growing middle class, Southeast Asia presents endless opportunities for the blockchain space, and is home to a burgeoning blockchain community. EurekaPro aims to bridge the gap between an increasingly tech-savvy population and the blockchain space by enabling unprecedented ease of transaction between fiat and crypto.”
Commenting on the EurekaPro logo, executive director Lau explained that the logo carries the distinct colourful wings of Victoria, the Roman goddess of Victory, not dissimilar to the Greek goddess Nike.
“It is not victory against competition that we are trying to claim but rather the triumph of making digital currency access easy and painless to businesses and consumers, in an utmost professional manner. It is also befitting for us to invoke an ancient beloved Roman legend to our cause as the Romans were first to invent metal coins for the purpose of store of value a few hundred years ago. Digital coins have come a long way from that. We have to remind ourselves that coins, in whatever form they are in, should serve the purpose of facilitating global trade,” Lau said.
EurekaPro began as Overswitch AB, a company headquartered in Sweden. With an international team based in Singapore, Malaysia and Sweden, EurekaPro is aiming to be the fiat-to-crypto hub for the growing Southeast Asian market.