Author: Jagdish Kumar, India
Alluma, a leading cryptocurrency exchange for India’s emerging cryptocurrency market has announced that it has partnered with Canadian Blockchain technology company Etherparty Smart Contracts, Inc. .
Under the partnership, Alluma will list Etherparty’s FUEL token in its exchange, first by any Indian exchange giving the token a wider range of investors in the fastest growing crypto market of the world.
Speaking on this, Etherparty CEO, Kevin Hobbs said, “FUEL has been a successful digital asset that addresses the pain points experienced by companies looking to launch token distribution events (TDEs) and deploy all kinds of smart contracts.”
“Asia is a key market for us and we are pleased to work with Alluma in introducing the token into the Indian market, helping us to expand our global reach,” Hobbs added.
FUEL is the central asset that powers all of Etherparty’s smart contract products. It removes the complexity of creating, managing and executing smart contracts on any Blockchain network, allowing non-domain experts to build smart contracts with ease.
The company is building easy-to-use, versatile and intuitive smart contract solutions to catalyze a wider adoption of Blockchain in various industries.
Rocket is the first smart contract product launched on the Etherparty platform, which streamlines the daunting process of launching a token distribution event, and runs on the aforementioned FUEL token.
Apart from being a user-friendly interface and a formidable player in Indian market, Alluma exchange provides hassle-free trading experience for Indian traders. The platform is supported by six-layered security architecture, as well as robust localised KYC (Know Your Customer) & AML (Anti Money Laundering) policies based on financial industry international best practices, and a multi-layered corporate governance structure.
Alluma was also planning to launch an initial coin offering in April 2018 in order to raise $25 million, but due to Reserve Bank of India (RBI) ruling on cryptocurrency, the company sleeved the plan for now.
The exchange now offers superior liquidity through partnerships with other leading exchanges, a loyalty program powered by the proprietary LUMA token, and best-in-class compliance and security frameworks.