Deribit announces to join the Loop Alliance initiated by Cobo Custody

Cryptocurrency derivatives exchange Deribit announced that it has joined the Loop alliance initiated by Cobo Custody, an enterprise-level digital wallet and asset custody service platform. The digital currency transfer transactions between Deribit customers and other member companies of the alliance will achieve zero handling fees and instant delivery Experience. Deribit CEO John Jansen said that he looks forward to building a more convenient channel with other member companies in the alliance ecosystem. Cobo co-founder and CEO Shenyu said that Deribit’s joining the Loop Alliance will reconstruct the digital currency trading ecosystem. According to the chain, the Loop Alliance was initiated by Cobo Custody in November 2019. The members of the alliance include more than a dozen blockchain companies such as Yuchi, Cobo Wallet, Bibox, MXC and Hotbit. It aims to solve the problems of transaction congestion and high transaction fees in the blockchain network through a method similar to traditional financial institution settlement.