The Singapore-based digital currency exchange Cryptology Exchange announced that ERC20 tokens TomoChain (TOMO) and PolicyPal Network (PAL) would be available for deposits starting Friday.
In a statement, the company said withdrawals and trading of the tokens would commence on Tuesday (August 21), adding that trading pairs will be TOMO/ETH, TOMO/BTC, PAL/ETH, PAL/BTC.
“We are pleased to announce the listing of TOMO and PAL, in a bid to bring in more trading options for our valued community,”
Cryptology CMO Herbert Sim said.
“In the next few months, we will be adding in more trading pairs and announcing the listing of even more tokens."
Early this month, the digital exchange firm announced it would reduce transaction fees from
0.02%, offering the lowest rates among the virtual currency exchanges. Currently, Cryptology is offering project listings on its platform for free after passing an assessment procedure by the company's research arm, Cryptology Lab.
Sim noted that a majority of virtual currency exchanges are in the process of diversifying their services and launching new products.
“At Cryptology, our approach is different – unlike typical crypto-to-crypto exchanges, we strive to simplify the process of token purchase. To do this we are offering a one-stop exchange that supports both tokens and fiat depositing and trading,”
Tomochain founder and CEO of, Long Vuong added Cryptology’s platform would allow his company to avail itself to penetrate the European market with as it offers direct fiat-to-virtual currency trading through the Cryptology platform.
For his part, Val Ji-hsuan Yap, founder and CEO of PolicyPal Network commented that security is one of the major factors his company is looking for in a virtual currency exchange. He is confident Cryptology is one of the exchanges that will provide the type of services his company is looking for.
The new digital currency exchange is capable of operating in both the mobile app and web versions using Google Play and App Store. Users can also use their Visa or Mastercards to start trading by depositing fiat on the Cryptology platform. The service is initially available in Europe but plans to roll out globally in the coming months.