NSAV, The second publicly traded cryptocurrency exchange in the U.S. is all set to go live tomorrow, August 9, 2021.
“We are truly pleased to be able to provide weekly updates to our shareholders and be on target for the launch of our very own Cryptocurrency Exchange,” confirmed the NSAV management.
NSAV cryptocurrency exchange is a wholly owned subsidiary of the U.S. based publicly traded company Net Savings Link.
Net Savings Link, Inc. (OTC Pink: NSAV) is a cryptocurrency, blockchain and digital asset technology company.
NSAV Becomes The Second Publicly Traded Cryptocurrency Exchange In The United States
The launch of NSAV cryptocurrency exchange will make NSAV only the second U.S. publicly traded company to own a cryptocurrency exchange after Coinbase.
In April, cryptocurrency exchange Coinbase Global Inc became the first crypto startup to list on Nasdaq. Coinbase closed at US$328.28 per share in Nasdaq debut, valuing crypto exchange at $85.8 billion.
2021 has been a great year for cryptocurrency adoption. The major change that we see is the growing interest of corporates and institutional investors in Bitcoin and other digital assets. All the leading investment banks have either established their crypto division or they are working on it.
NSAV Eyes Chinese Cryptocurrency Market
NSAV eyes to capture a significant portion of the Chinese cryptocurrency market. Presently, the Huobi Cryptocurrency Exchange has a 24-hour trading volume of over US$6 billion and 40% of its users are from China.
Chinese regulators have been issuing warnings over financial risks and money laundering. China has not declared Bitcoin or other major cryptos illegal, but it has banned cryptocurrency trading. China shut down local cryptocurrency exchanges and banned ICOs (initial coin offerings) in 2017. But, Chinese traders continued to trade on overseas exchanges.
Recently, the People’s Bank of China urged banks and payment firms to thoroughly check client accounts, identify those involved in cryptocurrency transactions and promptly cut their payment channels.
Despite the ban on crypto trading in China, Chinese traders are still active. With local exchanges shut down, many Chinese investors have switched to cryptocurrency exchanges owned by Chinese companies that had relocated overseas, including Huobi and OKEx, or trade over-the-counter through online platforms and social media trading chatrooms.
Many analysts believe that there are more Chinese traders now. In early September 2009, when China ordered local cryptocurrency exchanges to shut down, bitcoin was trading at just over US$4,000. currently, it is over $43,000.
China-focused exchanges, which also include Binance and MXC, have allowed Chinese individuals to easily open accounts online. They have also facilitated peer-to-peer exchange in OTC markets that help convert Chinese yuan into cryptocurrencies.
Huobi is the third largest crypto exchange globally in daily revenue at US$2.29 million, behind only Upbit US$3.42 million and industry leader, Binance at US$3.48 million.
NSAV Cryptocurrency Exchange is Legally Fit
NSAV is confidant that it possesses the expertise and skill set to avoid the legal and regulatory problems that have recently plagued Coinbase and Binance.
Binance in particular has been facing compliance issues across the globe. Many governments barred Binance from offering crypto trading services in their country. So, the strong legal foundation of NSAV cryptocurrency exchange (as the company claimed) can be a major boost for them. It will help them attract more customers from competition as well as add first time adopters.
Net Savings Link To Build Business Around Cryptocurrency, Blockchain and Digital Asset Industries
Net Savings Link’s vision is the establishment of a fully integrated technology company that provides turnkey technological solutions to the cryptocurrency, blockchain and digital asset industries.
“NSAV’s vision is the establishment of a fully integrated technology company that provides turnkey technological solutions to the cryptocurrency, blockchain and digital asset industries, the company stated.
At later stage, the Company has planned to offer a wide range of services such as software solutions, e-commerce, advisory services, financial services and information technology in the blockchain space.
