BiboxEurope recently announced a new program to provide fiat trading capabilities for quality blockchain projects across the world. Now, the Swiss-based digital asset platform has selected the very first project in the form of Ontology to be listed under this initiative.

According to BiboxEurope announcement, the listing of Ontology’s token – ONT goes live today following which users on the platform can start trading it against EUR and CHF on October 31. The platform states that the initiative to offer fiat trading capabilities to deserving blockchain projects was designed to help them overcome the challenge of finding an exchange that can support crypto-fiat trading as most of the currently available options are crypto-crypto platforms that are willing to list them. By doing so, BiboxEurope is making these tokens accessible to almost everyone, especially in the European market.

Ontology is one of the several applications BiboxEurope had received soon after fiat trading for crypto projects announcement on October 17. And, the project emerged on top following a review of all the applications by the BiboxEurope team to become the first-ever project token to be listed on the platform.

To give a background on ONT, it is one of the tokens belonging to the Ontology Network which implements a dual token model. ONT allows its users to stake in consensus and participate in the network’s governance functions. On the other hand, its sibling ONG serves as a utility token that can be used to avail on-chain services on the network. The underlying network itself is a high performance distributed public blockchain supporting multi-chain and multi-system integration. The Ontology platform is said to support multi-layer, sharding and multi-VM public blockchain services that can be readily customized using component technology for added privacy and efficiency in cross-communication. Among the things that make Ontology worth listing on BiboxEurope includes the fact that it is one of the top 3 decentralized identity and privacy protection systems in the world with its own decentralized identity framework, ONT ID. The platform recently released its Sharding TestNet and Cross-chain TestNet for interaction between BTC and ETH chains.

BiboxEurope has a dedicated event page to kickstart its fiat listing program for blockchain projects with 18,000 ONT giveaway. The event time starts from October 30, 8 AM to November 15, 8 AM (London time).

The landing page for the event is accessible at – https://bibox.cc/ont

On top of the listing, Ontology will partner with Bibox, an Estonia-based crypto exchange, to launch a debit card that will work on Visa/MasterCard and UnionPay networks across the globe. Once launched, the debit card will become the first-ever card to be launched in the blockchain industry to work on the UnionPay network. The debit card is expected to play an important role in promoting the use of digital assets among users by making it easier for them to conduct transactions using it. The cardholders will also be eligible to avail exclusive benefits like discounts on hotel bookings, international brands, high-net-worth membership cards, etc.

While there is still some time left for people to start trading ONT against fiat, those who are in a hurry to explore new token listings on BiboxEurope will soon be able to do so with BIX tokens which are expected to be available soon for fiat trading on the platform.

The post Ontology Becomes First Project to Be Part of BiboxEurope’s Initiative to Provide Fiat Trading Capability to Quality Blockchain Projects appeared first on NewsBTC.

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