Ontology came to Europe at the same time as BiBox, the crypto exchange. Bibox established themselves in Zurich, as the stock exchange that has been around for four years and is among Asia’s largest cryptocurrency marketplaces.
What is Bibox Europe?
BiBox lets you trade over 60 currencies through their platform. Their competitive advantage is a 0.1% trading fee. The platform uses AI algorithms to perform the best possible trades to maximize returns. They also have their own product called CunBi Bao. This is a financial product that allows customers to lock selected cryptocurrencies for a specified period of time to earn interest.
BiboxEurope has all the necessary European licenses so that the Blockchain Financial Service Institution fully regulates them.
What is ONT?
Ontology is one of several tokens belonging to the Ontology Network. It has a dual token model. ONT allows users to take part in regulations and participate in the network’s management functions. ONG, which is a sister token, acts as a tool token and can be used to avail services on the chain and network.
The network itself is a high performance distributed public blockchain that supports multiple chains and multi-system integration. The Ontology platform is said to support multi-layer, sharding and multi-VM blockchain services that can be easily customized using component technology.
ONT meets Bibox
When BiboxEuropa announced their fiat onboarding for crypto on October 17, Ontology was one of several services that contacted them. After a thorough review, Ontology came out as the preferred service and has now become the first project token to be listed on the platform.
What stood out for BiboxEurope was that ONT has its own decentralized identity framework, ONT ID. The platform also has its own Sharding, TestNet, and TestNet across chains for interaction between BTC and ETH chains. Bibox in Estonia will also play an important role in this partnership. They plan to launch a debit card that will work on Visa / MasterCard and UnionPay networks worldwide. This will be the first card to be launched in the blockchain industry that operates on the UnionPay network.