CoinMetro is a regulated European cryptocurrency exchange. An ambitious project that wants to bring simplicity and security to the crypto exchange world, and act as an intuitive and user-friendly one-stop platform for both newbies and seasoned investors.
It achieves that by providing instant crypto-to-fiat liquidation, a robust trading platform, and unique crypto investment vehicles. This project is the brainchild of Kevin Murcko, the founder and former CEO of licensed retail forex broker FXPIG — well regarded for its transparency and customer service.
Building CoinMetro’s relationships with banks, regulatory agencies, and financial services is an ongoing process for Kevin as he has made significant headway with respect to licensing and compliance. However, there has been growing pressure from the traditional financial world to standardize the internal processes of virtual asset service providers in so far as to adhere to and maintain compliance with current and forthcoming regulations. Unfortunately, the lack of solutions on the market has put a burden on the exchange as a high volume of manual work is required to properly manage internal workflows.
“We were already using various types of tools, each designed or created to fit a very specific need, such as AML alerts and or relatable actions, tracking and tracing of assets, financial accounting, etc. We even built some internal communication systems in-house to try and streamline processes,” Kevin explains. “But we wanted a single tool that could cover multiple use cases and get them to communicate with each other seamlessly. In using PARSIQ’s features, CoinMetro has been able to put multiple internal processes, that we used to handle manually, on autopilot while providing additional value to our end users.”
Via the PARSIQ platform, Kevin and the CoinMetro team have been able to increase efficiency and save time, while complying with the ever changing demands of regulators and financial institutions. They no longer have to spend time and manpower on developing complex systems in-house or use a large set of standalone expensive services that do not easily or natively connect or communicate with one another. This alone, aside from the benefits to user experience and administrative processes, means CoinMetro can drastically reduce both their server infrastructure costs as well as the related human resource costs. With PARSIQ, every automation can be created and deployed in a few clicks.
For more information on PARSIQ, visit https://www.parsiq.net.
Author: The PARSIQ team