Coinstore: Pioneering the Cryptocurrency Landscape
In this captivating interview, we delve into the remarkable journey and achievements of Coinstore, a prominent cryptocurrency exchange in Asia with a global presence. Coinstore has solidified its position in the market over the past three years, offering a diverse range of products that cater to the evolving needs of traders and investors. Among its impressive product lineup, Launchpad stands out as a cornerstone, witnessing remarkable oversubscription rates and contributing significantly to Coinstore’s growth trajectory.
Join us as Manfred Chew, the associate director of Coinstore, takes us on a journey through the exchange’s milestones, strategies, and plans, providing valuable insights into its role in shaping the digital asset landscape.
TheNewsCrypto: Coinstore celebrated its 3rd anniversary in December. Can you highlight some of the significant achievements the exchange has made over the past three years?
Manfred Chew: Over the past three years, Coinstore has successfully built a robust product lineup, which includes spot trading, over-the-counter (OTC) services, Launchpad, wallets, staking (Earn), futures and derivatives, and Labs. As of November 2023, Coinstore boasts over 5 million registered users across 175 countries and regions, with a particular focus on Indonesia, India, and Nigeria. Launchpad has emerged as the flagship product of Coinstore, with an average oversubscription rate of 357.57%. With our rapid development, we are confident in expanding further into emerging markets, with a goal of surpassing 10 million users by 2025.
TNC: As Coinstore prepares to introduce new offerings, with a focus on security and compliance, how does the exchange plan to protect users’ assets and maintain its reputation?
MC: Ensuring asset security is our top priority. To guarantee the safety and financial security of user assets, we have invested significantly in state-of-the-art security infrastructure and undergo regular third-party audits. Our technical team has successfully recovered lost assets due to user errors, further ensuring the safety of our users’ assets. In terms of compliance, Coinstore actively engages and collaborates with local regulatory agencies in our target markets. We aim to foster better understanding of blockchain technology and cryptocurrency among regulatory bodies while working together to establish relevant regulatory frameworks. Our commitment is to become the most trusted and secure trading platform globally.
TNC: How does Coinstore navigate and overcome regulatory obstacles when bridging the gap between cryptocurrency and traditional financial systems?
MC: Asset security remains our top priority as we strive to provide a safe and secure trading environment for our users. To ensure the safety and financial security of user assets, we have made substantial investments in state-of-the-art security infrastructure and undergo regular third-party audits. Our technical team has successfully recovered lost assets due to user errors, further ensuring the safety of our users’ assets.
Additionally, compliance plays a crucial role. Coinstore actively engages and collaborates with local regulatory agencies in our target markets, aiming to enhance their understanding of blockchain technology and cryptocurrency. Simultaneously, we actively cooperate with local regulatory agencies to establish relevant regulatory frameworks. Our goal is to become the most trusted and secure trading platform globally.
TNC: Can you provide an introduction to the “Finding the Future Alpha” forum and share what inspired you to organize this event?
MC: It gives me great pleasure to introduce the “Finding the Future Alpha” forum. As Solana gains popularity, attracting a significant influx of users and capital, it has emerged as one of the top 5 cryptocurrencies by market value, surpassing a market capitalization of $90 billion. In light of this, Coinstore and Jsquare will jointly host the “Finding the Future Alpha” forum, bringing together top global capital, public blockchains, exchanges, KOLs, media, and other resources. The forum aims to collectively explore topics related to traditional and new public blockchains, focusing on their current state and future development. Our goal is to seek more possibilities for the future ecosystem construction of new public blockchains.
TNC: Can you provide an overview of the “Premiere Brand Conference”?
MC: Our brand conference will gather over 500 crypto entrepreneurs, investors, experts, and renowned KOLs in Dubai. It will be a convergence of top crypto minds, bringing together unique industry perspectives and discussions on the latest industry trends. The conference will cover topics such as the BTC ecosystem, the development of L2, and the opportunities and challenges of public chains through the industry’s celebrity forum.
Over 100 global top media outlets will broadcast the event simultaneously. Coinstore will live stream the conference on its own channels, CS Live and YouTube, ensuring audiences worldwide have access to the latest information.
TNC: Are there any major announcements that Coinstore will make at the brand conference?
MC: Yes, we will be announcing two major news items at the conference. Firstly, we will be launching the IEO 2.0 product for our Launchpad. This innovative product aims to facilitate the development of blockchain projects by introducing innovative and promising projects. By listing tokens that maximize users’ profits, Coinstore aims to provide a platform that benefits both projects and users.
In addition, we will be announcing our brand ambassador recruitment program, aiming to expand our brand presence with renowned crypto industry KOLs. Collaborating with KOLs has always been a key strategy in Coinstore’s development. Previously, we have worked with over 400 KOLs to launch live streams, including Coinstore X Space and CS Live.
TNC: With Coinstore’s focus on selecting high-quality assets and launching premium projects on Launchpad, what notable milestones or achievements has Launchpad attained since its inception?
MC: Since its launch, Launchpad has become a pivotal product for Coinstore, providing significant benefits to our users. Launchpad projects have achieved an average IEO subscription rate of 3622.87%, with the best-performing project, SOIT, yielding an astounding 27.75x ATH (All-Time High) investment return. Projects CNT and INVT have also achieved impressive ATH investment returns of 26.05x and 22.52x, respectively. The Coinstore Prime board has garnered nearly 20,000 participants, with an average gain of over 1,170%. Additionally, the IEO Start-up board has hosted a total of 25 projects, attracting nearly 50,000 participants.
We also have exciting news to share as we plan to launch the IEO 2.0 product, aiming to select more high-quality projects.
TNC: Coinstore is not the only exchange offering IEOs. Can you explain the key differences between Coinstore’s IEO products and those of its competitors? What advantages do Coinstore’s IEO products offer?
MC: It is true that many trading platforms offer IEO products, which have become a significant aspect of exchange operations. Coinstore has been committed to curating high-quality assets for our users since the launch of our IEO products, making us a preferred choice among users. Launchpad has emerged as a star product for Coinstore.
When it comes to differentiating our IEO from competitors, I believe we have advantages in two key areas: screening and service. In terms of screening, Coinstore employs a rigorous evaluation process involving multiple layers of assessment and expert evaluations to bring high-quality assets to our users. This approach has been instrumental in our success, particularly during challenging market conditions.
Regarding service, Coinstore provides dedicated support for onboarding assets. We have a specialized team that offers one-on-one assistance to projects, aiding in their overall listing, marketing, and operations. This level of personalized service plays a crucial role in our success as a trading platform.
TNC: Coinstore has come a long way in the blockchain industry as one of the most stable and reputable exchanges. How do you envision the exchange contributing to the market and empowering the blockchain ecosystem?
MC: Coinstore actively contributes to the industry and society, aligning with our noble mission and values. We firmly believe that blockchain technology can create a fairer world and are committed to providing better tools for society, empowering them with the power of Web3.
To achieve this, Coinstore actively organizes and hosts Cryptalk and CS Connect events. To date, we have organized over 30 Cryptalk events, 15 CS Connect events, and 15 Expo conferences. These events serve as bridges between industry insiders and outsiders, attracting global participation and receiving a warm welcome.
In conclusion, Coinstore’s future plans and strategies revolve around our commitment to providing a secure and reliable trading platform for our users while contributing to the industry in a meaningful way. We aim to make cryptocurrency accessible to more people, with a target of surpassing 10 million users by 2025. Our ultimate goal is to establish Coinstore as a world-class digital asset exchange.
Coinstore remains steadfast in its philosophy of “long-termism,” approaching every challenge with passion and determination. We are committed to “global compliance” and have meticulously planned a robust product lineup that covers various aspects of cryptocurrency trading. This comprehensive approach positions us as a one-stop solution for our users, further solidifying our position as a world-class digital asset exchange.
