QASH (QASH) Grows Nearly 300% in January as It Looks to Address Crypto Liquidity
QASH has grown almost 300% this month after breaking through the $1 mark, and if it achieves what it aims to do, it can go much bigger.
The key problem in the crypto world is tackling the liquidity issues of converting fiat to cryptocurrencies. Not only does QASH aim to make it easier to bring money into the cryptosphere, but it also wants to automatically search global exchanges for the best prices of entry.
On January 1, QASH was trading at just $0.86. Today, it has touched $2.35, and there are a few good reasons for this rise.
Arbitrage is the process of taking advantage of different prices in different markets. It is a practice as old as markets themselves but particularly rife in the crypto world. QASH plans to build on this activity with the introduction of The World Book (TWB).
The product will be a feature of the Cash exchange (Quoine Liquidity) launching in the second quarter of this year. Its main function will allow for a much easier conversion of fiat currency into crypto, in a way that automatically takes advantage of the best market rate at that moment for any particular crypto. So, for instance you are in Korea, but at that moment a US exchange has the best spot rate for a certain token - in this case, TWB will execute the purchase at the US rate.
In addition, transactions can be processed faster than they are resolved in the blockchain because of their liquidity offering, and you won’t be charged fees.
In summary, the exchange will give you a better rate, faster processing times and no extra charge for the service. It is a concept that should have Coinbase quaking in terror because right now they have a near-monopoly on the conversion of fiat to crypto.
The whole process of entering the market via Coinbase, only to then have to move to Bittrex or Binance is not only laborious but expensive. Quoine, the parent company of QASH, wants to make this process far more sophisticated as the market prepares for new money.
The platform housing the TWB will exist on an exchange called Quoine Liquid, which will link all major exchanges to one platform. Quoine Liquid plans to go live in the second quarter of this year and has already struck up partnerships with Bitfinex, Dash, Binance, Blockwave, Gibraltar, ZB.com, BW.com, EXX.com, and CEX.IO.
Quoine has two existing exchanges – Quoinex and Qryptos – and they are two of the largest in Japan, so Quoine understands the nuances as well as anyone. What’s more, this proposal has been rubber-stamped by the Japanese government and in September 2017, QUOINE Corporation became the first global cryptocurrency exchange to be officially licensed by Japan’s FSA.
What’s next for QASH?
QASH had one of the most successful ICOs in history. It raised $350 million and many missed out on the oversubscribed event.
Overall, QASH has highly ambitious plans. It wants to connect all of the world’s exchanges and eliminate spot markets when converting fiat to crypto. By improving the liquidity of crypto markets, it wants to make conversion from physical to digital money much easier, cheaper, and faster. This is a much needed solution for handling the large amounts of money that is pouring into the markets, and if QASH manages to deliver, it can go big.
Currently it is trading on Huobi, Bitfinex, Quoine and a couple of other, smaller exchanges, and at the time of writing QASH, has a market cap of $860 million, with each token valued at $2.4. Since it is an ERC20 token, it can be stored on your MEW (MyEtherWallet) address.