The swiss-based platform has now launched its first initiative. The Estonian branch, BiBox, has also announced that with Ontology, a new debit card will be launched shortly. Too much info? We are here to give you a step-by-step of BiboxEurope, Ontology, and the projects that they will be launching together. 

What is BiboxEurope?

Does the name Bibox sound familiar? That is because they have a reputation built on their Chinese cryptocurrency and digital asset exchange. Their exchange allows you to trade in over 200 crypto pairs. They have a competitive edge with 0.1% trading fees. The platform uses AI algorithms that execute optimal trades to maximize returns. They also have their own product that is called CunBi Bao. This is a financial product that allows customers to lock specific cryptos for a fixed period to earn interest.  

Now with the launch of BiboxEurope, this platform has an opportunity to cater to European customers. With all the proper European licenses (VQF), they are a fully regulated Blockchain Financial Service Institution. Besides, BiboxEurope built strong banking relations and raised investment against equity from a world Top10 Bank.

BiboxEurope has on-ramp with four fiat pairs, US Dollar, Euro, Pound Sterling, and Swiss Franc. Bibox Exchanged, the parent company based in Estonia, forged partnerships with various parties across banking, investment, insurance, and regulatory authorities which provide a seamless experience as a one-stop solution for cryptocurrency investors. 

What is ONT? 

Ontology is one of the tokens belonging to the Ontology Network. It is a dual token model. ONT allows its users to stake in consensus and participate in the network’s governance functions. ONG, which is its sibling token, serves as a utility token that can be used to avail on-chain services on the network. 

The network itself is a high performance distributed public blockchain supporting multi-chain and multi-system integration. The Ontology platform is said to support multi-layer, sharding and multi-VM public blockchain services that can be readily customized using component technology for added privacy and efficiency in cross-communication. 

The platform states that the initiative to offer fiat trading capabilities to deserving blockchain projects was designed to help them overcome the challenge of finding an exchange that can support crypto-fiat trading as most of the currently available options are crypto-crypto platforms that are willing to list them. By doing so, BiboxEurope is making these tokens accessible to almost everyone, especially in the European market

ONT meets Bibox

When BiboxEurope announced their fiat trading for crypto on October 17th, Ontology was one of several applications to contact them. After review, Ontology came out as one of the most desirable applications and has now become the first-ever 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 and TestNet and Cross-chain TestNet for interaction between BTC and ETH chains. 

Bibox in Estonia will also play a part in this partnership. They are set to launch a debit card that will work on Visa/MasterCard and UnionPay networks globally. This will be the first-ever card to be launched on the blockchain industry to work on the UnionPay network. This debit card will play an important part in promoting the use of digital assets by making it easier for people to conduct transactions using this card. Cardholders will be eligible to use benefits like discounts, international banking, high-net-worth membership card and more. 

To kickstart this, Bibox Europe is hosting a giveaway. You can Sell BTC Through Fiat Trading Pairs at 1% Above Market Price, The event goes until November 25th at 8 am (London Time).

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