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Decentralised Exchange Switcheo First Application to Bridge NEO and Ethereum

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Decentralised Exchange Switcheo First Application to Bridge NEO and Ethereum

Switcheo, a decentralised exchange that was first application on the NEO blockchain, is now also available on Ethereum, according to a company press release.

Landing on Callisto

The exchange is developing its own blockchain to allow the integration of different networks. CEO Ivan Poon said: “We are currently in the development phase of enabling blockchains’ interoperability to activate cross-chain trading. Because each blockchain runs on its own unique protocol and, there is no current technology that facilitate their interaction with one another.”

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Switcheo went live in April 2018 after raising $8.5 million in its ICO. Its website claims over 25,000 users, and its token has a current market value of $3.2 million, according to coinmarketcap.com. Its website currently claims trading volumes of $22,331 in the last 24 hours, while coinmarketcap.com has it at just over $68,000. Switcheo says that it hit a high of $3 million in March.

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