EBO has launched a mobile app giving users the ability to trade cryptocurrencies directly within a secure, non-custodial ecosystem. The EBO app aims for a simple and streamlined user experience within a “one-stop-shop” for owners of cryptocurrencies. The app is available for download from Apple’s App Store.
Swiss-based EBO is the brainchild of one of Ethereum’s Genesis token holders, Terrence Sullivan. Sullivan founded Blockchain Exploration GmbH in 2017, and last year launched Ethereblockchain.io, a full-featured Ethereum blockchain explorer and decentralized exchange based on the 0x protocol.
Billed as an “open finance ecosystem,” the EBO launch now brings a suite of cryptocurrency services to users within a single application interface. Used in this context, the words “open finance” can be taken fairly literally. Unlike many platforms that restrict users in particular countries, the EBO application is available to users in every single country without limitation.
Because the app operates on a fully decentralized infrastructure, there’s no signup or KYC requirement, meaning users have full custody and control of their own cryptos at all times.
Within the EBO app, users can freely buy, sell, or trade Bitcoin, Ether, or any Ethereum-based tokens via the in-built decentralized exchange. The app also includes an integrated Ethereum Mobile Wallet and Ethereum Blockchain Explorer, which all work together seamlessly. Users can trade between different crypto assets with only a single tap on their phone screen.
A Different Approach
In the current cryptocurrency landscape, users generally have to operate multiple exchange accounts and wallet apps to accommodate their trading activities and holdings. Therefore, EBO’s open finance approach aims to eliminate barriers to entry, creating an opportunity to more easily onboard users to cryptocurrencies.
At the same time, it’s a simpler alternative to services such as Coinbase for those who are already familiar with using cryptocurrencies. However, unlike centralized exchanges that levy fixed fees as a percentage of the trade, trading on EBO is low-fee, and there are no charges for deposits or withdrawals.
If user adoption of EBO services increases, it could see an end to the need for everyday crypto enthusiasts to use crypto exchanges for straightforward trading activities on the spot markets. Centralized exchanges have long been earning huge profits from charging users for their services while exposing funds to risks, including hacks and fraud.
Therefore, it seems likely that the opportunity for low-cost, instant, and secure trading could quickly find a home among cryptocurrency fans.