The time-based cryptocurrency initiative will integrate the popular instant exchange app right within the ChronoWallet.

ChronoBank, an ambitious project aimed at disrupting the short-term recruitment sector by connecting employers with freelancers on a peer-to-peer basis, has announced the integration of the Changelly app within its main wallet software.

ChronoBank’s ICO is currently ongoing, with around $3 million already raised. The key to the project’s operation is Labour Hour (LH) tokens, which will trade freely on the open market and will be the native unit of currency that companies use to purchase labour from professionals. Because these are linked to labour costs in each token’s originating country, they are also expected to provide an excellent store of value — an inflation-proof asset that will be attractive to long-term investors and traders wanting to park funds overnight.

Instant liquidity

‘The ability to trade these LH tokens quickly, easily and without slippage against other national and virtual currencies is vital to the smooth operation of ChronoBank and confidence in our platform,’ explains Sergei Sergienko, founder and CEO of ChronoBank. ‘That is why we are working to ensure they are listed on a wide range of exchanges. Moreover, we are implementing Changelly right within the core ChronoBank wallet. That will make it incredibly easy for users to exchange LH for bitcoin and other major cryptocurrencies with practically zero delay.’

Changelly launched in 2013 as an instant exchange app, similar to the well-known ShapeShift. Rather than being a traditional exchange that requires users register before trading against an order book, with variable depth and the problems of slippage that can result, it aggregates rates from the largest trading platforms and offers a single rate. The commission is just 0.5%. By fundamentally rethinking the way cryptocurrencies are exchanged, Changelly aims to remove technical impediments to customers engaging with this critical element of the cryptocurrency world’s infrastructure.

‘Changelly’s team is well-established and trusted in the crypto world,’ comments Sergienko. ‘It is a clean, reliable interface that we will integrate directly into the ChronoWallet to give our users another choice for trading — in this case, one that’s all about speed and convenience.’ The move will allow anyone to buy LH tokens quickly, and then use these to buy for services on ChronoBank’s labour exchange.

Changelly CEO Konstantin Gladych comments — “We’re happy to collaborate with ChronoBank. With Changelly, any user may instantly top up an account paying with Bitcoin or Mastercard/Visa bank card.”

For more information about ChronoBank or to participate in the ICO, visit www.ChronoBank.io.