During the soft launch we plan to start operations with limited amount of digital assets for trading. We plan to start with the following assets:

Crypto (3rd party liquidity)

BTC: ETH/BTC BCH/BTC EOS/BTC XRP/BTC LTC/BTC IOT/BTC ZEC/BTC ETC/BTC XMR/BTC DSH/BTC NEO/BTC ETP/BTC OMG/BTC

Fiat (3rd party liquidity)

EUR: BTC/EUR ETH/EUR EOS/EUR IOT/EUR NEO/EUR

GBP: BTC/GBP ETH/GBP NEO/GBP EOS/GBP IOT/GBP

COV pairs (internal liquidity)

COV: COV/BTC COV/ETH COV/EUR

You can witness already now, that the Covesting platform Beta includes over 90+ digital assets, offering quick and responsive order execution on every single currency pairing, thanks to external liquidity providers that Covesting has established relationships with. However, we prefer to grow operations step by step. Our security team proposed to start with a limited number of digital assets, and grow the product offering week-by-week. This will allow us to resolve any potential trading issues quickly and efficiently.

A full list of digital assets will be released with the “Full Launch”. All users will be able to benefit from the full dashboard functionality, reporting, and internal messaging service.

Soft Launch is also called a “quiet launch”, meaning that we will not aim for instant rapid user acquisition. It is important to understand that apart from the front-end, trade matching engine, and blockchain transactions, there is also significant work involved behind the scenes. We have to gather statistics on the average amount of verifications that a single KYC team member can handle per day/hour, and build up the relevant resources to ensure that no platform user shall experience a delay in the verification process. We have to also make sure that back-office, reporting, and accounting processes are operating properly in a “production” environment.

We have already tested out marketing by targeting various groups and we have all the necessary statistics for achieving rapid growth, however it is important to service all the clients in the proper manner and offer the best-in-class support in the industry. We are in talks with several BPO’s to outsource some of the support functions in case the support team needs to grow quickly (we are talking about tens or maybe even hundreds).

One thing is for sure — Covesting will continue to offer second to none user service and the original support team members will be the ones to cultivate the level of professional service (once again, thank you to all Covesting support team members who are doing a great work on daily basis).

The Soft Launch will occur only after the license has been secured. We will operate in Soft launch mode as long as its required in order to be 100% that infrastructure is ready for scaling.

Remember, in case there will be a significant delay in licensing process in Gibraltar, we will still be able to launch with the existing license secured in Estonia, however this is not something we prefer of doing, taking into account that HQ of Covesting is located in Gibraltar. This is rather an extreme plan B that we have established.

3. Full Launch (September — October)