Alluma Launches its Beta, Institutional Grade Cryptocurrency Exchange in India

Alluma has announced the launch of its Beta platform offering crypto-to-crypto trading, with Bitcoin (BTC) and Ethereum (ETH) as the base currencies. In addition, the Alluma Beta exchange will also support the trading of other coins such as Ripple (XRP), Bitcoin Cash (BCH), and the FUEL token by Etherparty. The exchange is also currently testing 10 more tokens which will be added to the platform during the course of the beta launch period.

Alluma is also the first exchange in India to introduce the FUEL token by Toronto-based Etherparty, to trade in Bitcoin and Ethereum. Etherparty is a tool that allows users to create smart contracts on the blockchain. It removes the complexity of creating, managing and executing smart contracts on any blockchain network, allowing non-domain experts to build smart contracts with ease. Fuel is the token offered by Etherparty that supports the creation of these smart contracts.

Boasting a simple, intuitive user-friendly interface, Alluma’s exchange promises a smooth and hassle-free trading experience to Indian traders. It offers a superior liquidity through partnerships with other leading exchanges, a loyalty program powered by the proprietary LUMA token, and best-in-class compliance and security frameworks. The platform is supported by a six-layered security architecture, as well as robust localised KYC & AML (Anti Money Laundering) policies based on financial industry international best practices, and a multi-layered corporate governance structure.

Akash Aggarwal – Founder and CEO, Alluma said: “After several months of product development and enhancements, we are proud to launch our Beta exchange for Indian cryptocurrency traders. With the launch of the platform, we have aimed to solve one major problem crypto traders face in India is the time it takes from account registration to first trade, which we have brought down to as little as 5 minutes. Alluma’s fast, paperless Know Your Customer (KYC) process has got some great initial feedback. The platform has also been well-received by customers and we look forward to adding many other tokens and token pairs over the next few weeks.”

Kevin Hobbs – CEO, Etherparty said: “Fuel has been a successful token targeted at helping ICOs create smart contracts. While looking for potential exchanges for the distribution of our token, we found Alluma’s team, vision and the quality of the product they have created is particularly impressive. Asia is a key market for us and we are pleased to work with Alluma in introducing the token into the Indian market, helping us to expand our global reach.”

Alluma connects traders with a global order book to trade multiple currencies quickly and competitively. Traders have access to advanced trading options such as limit and stop orders not found on many domestic platforms.