CGCX (Calfin Global Crypto Exchange), the world’s first insured hybrid crypto exchange platform (who just recently raised over $32.5 million during their ICO) is not only disrupting cryptocurrency trading through its unique approach and technology, but it’s bringing disruption to the very way it addresses user adoption and platform growth.
On the 5th of October, 2018, CGCX.io entered into a structured long-term partnership with South East Asian insurance powerhouse, the Archipelago Group. The partnership will kickstart a new vertical, namely merchant solutions, that will jumpstart the cryptocurrency business for Archipelago, and at the same time expand the utility of the CGCX.io token.
CGCX.io will enable integration with Archipelago’s digital platform offering life, health and medical insurance solutions, to allow 1.5 million insurance policy holders and insurance intermediaries an option to pay their premiums using cryptocurrencies, including Bitcoin, Ethereum, and CGCX tokens, with more cryptocurrencies to follow.
Under consideration are also discounts and other incentives aimed at promoting cryptocurrency payments. Anandh Swami, CGCX’s CEO, speaking of the partnership between the two companies said, “our collaboration aims to make life easier for Archipelago Insurance and it’s customers as far as handling cross-border payments and business in general, and increase customer and regulatory trust thanks to the platform’s high level of transparency.” Ian Lim Teck Soon, Archipelago’s CEO also commented, “we are keen to explore blockchain technology and cryptocurrencies in our insurance service offering and we couldn’t be more thrilled to be working with CGCX to further enhance and develop the healthcare ecosystem.”