The Jack Dorsey-backed token platform CoinList launched an exchange Thursday aimed at institutional traders.
CoinList Pro, modeled after incumbent rival Coinbase Pro, is an exchange tailored to trading and buying the new tokens listed by CoinList clients.
CoinList launched some of the trendiest cryptocurrency sales to date for non-U.S. and accredited investors, including offerings from Celo, Solana and Filecoin. CoinList President Andy Bromberg said the token-issuing platform has facilitated nearly $1 billion worth of transactions from “hundreds of thousands” of users since 2017.
The new service will rely on partnerships with startups such as BitGo, Bison Trails and Anchorage for staking and custody options, including nearly a dozen assets by 2021.
CoinList Pro lists bitcoin (BTC), ether (ETH), celo (CELO), orchid (OXT) and algorand (ALGO) tokens for now. It will be the first exchange to support filecoin trading when the token launches in September, Bromberg said.
Bromberg said CoinList will facilitate roughly a dozen token sales in 2020, so this complementary exchange is meant to reduce friction. Users won’t even need to own separate cryptocurrency wallets, they can wire money from their bank accounts.
“Our dream sequence is users buying from a token sale and eventually selling that asset on CoinList Pro for a seamless flow,” Bromberg said in an interview.