First Certified Crypto Exchange In Laos Launches: Vientiane Exchange Money

Laos makes a move towards increasing its crypto-friendliness. The new development has brought the first-ever crypto exchange with an official certification in Laos. The exchange's name is Vientiane Exchange Money, and it will only offer seven currencies – digital and traditional, at least for the time being,

The First Official Crypto Exchange Of Laos

Vientiane Exchange Money will officially become the first certified cryptocurrency exchange of Laos. The new exchange claims that they possess the latest technology which will allow them to provide their customers with the fastest transactions for all the currencies that they will be offering. The transactions will also be extremely accurate, as well as fully transparent.

The exchange will be located in Laos' capital, and will represent the first certified international exchange. Its main goal is to influence the way that Laos' citizens are dealing with money.

This transformation of traditional views on sending payments and moving funds will come through new technology, and interesting innovations. The exchange plans to provide its users with entirely new experiences in their day-to-day lives, as well as to create new opportunities for the future.

One part of these innovations will also include a new line of ATMs, that is supposed to go live on July 1 of this year. They will offer various functionalities, including the option to exchange cryptocurrencies. The currencies that are going to be included are Bitcoin, US dollar, Unit, Thai baht, Russian ruble, Lao kip, as well as Singapore dollar.

The Uncertainty Regarding The Exchange’s Future

Despite the fact that Vientiane is quite an important development for this country, its future is still very debatable and uncertain. The uncertainty regarding what is going to happen is mostly inspired by what happened to Lao Security Exchange. This was an exchange that was created by the Lao government back in 2010.

The exchange received a lot of financial, as well as technical help from Thailand and South Korea at the time. However, the problem emerged when it became clear that the local firms are not exactly planning to make any moves that would bring them any closer to the platform. Even now, there are barely seven companies that are listed, and their trading volume consists of barely 503 million Lao kips, which is approximately $60,000.

Still, the interest in the crypto world in Laos is definitely growing, and Vientiane is not the only one that is trying to enter the crypto world. Another project from last year, called the Bananacoin, attempted to start an ICO. And, since Laos is pretty well-known for its bananas, the ICO attempted to offer coins that would be backed by these very bananas.

The deal had one kilogram of Lady Finger bananas being equal to one unit of the crypto. The ICO actually did far better than expected, and has managed to sell around 6.8 million coins, despite the fact that many believed that the entire thing was a scam. Still, they were offering up to 14 million coins, and managed to sell less than half.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Avatar
Bitcoin Exchange Guide News Team
B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,467FansLike
2,795FollowersFollow
4,230FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Compound Protocol to Roll Out Decentralized Oracles Dubbed ‘Open Price Feed'

Compound, one of the most popular defi protocol, is all set to introduce open price feeds for lending on its platform using a decentralized...

$2 Million Slippage & Surge in Ether Price on Uniswap Helps Net $40k in Profit

A Uniswap user was able to profit $40,000 thanks to $2 million of slippage and the price of Ether surging north of 15%. It all...

Irish Govt to Target Cryptocurrencies Use in Money Laundering And Terror Financing

The Irish government aims to implement stricter and more stringent laws to curb money laundering and terrorism financing in its financial system, including digital...

Interactive Brokers to Settle $38 Million in Penalties for Violating AML Procedures

Interactive Brokers LLC, a U.S based brokerage that skyrocketed between 2013 and 2018, has agreed to settle a total of $38 million with the...

Ethereum Gas Price Hasn’t Been This High Since its Launch

The price of Ether is back to making its way to $400 level as it hovers around $391 in the green with just $840...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today