The Singaporean peer-to-peer trading platform Oobit has launched a comparison site for cryptocurrencies that it has likened to flight comparison site Skyscanner.
Dubbed Oobit Hunter, the comparison site will use artificial intelligence to search crypto prices across multiple exchanges and provide the best options. Oobit allegedly conceived of the idea due to the large discrepancies it found in crypto prices across the Internet.
The new service will give customers a much broader view of prices and will likely be an eye-opener for investors who only use one platform. Oobit hopes it will become a widely used and popular tool amongst traders looking to secure the best deals.
Oobit Hunter doesn’t simply track and display a list of prices but also recommends the best possible purchase for individual users based on their specific requirements and circumstances. In addition to providing info on liquidity and other extra services, Oobit has partnered with Coinbase to provide wallet, escrow, and custodial services.
Oobit CEO Amram Adar spoke of his delight to provide such a service to the cryptocurrency sector and believes it will play a vital role in helping traders make better decisions. “Until now there has been no such solution for cryptocurrency users,” he said.
To address the hassle of signing up to multiple exchanges, Oobit has developed the Oobit Pass, a unified Know-Your-Customer (KYC) passport. The system uses military-grade encryption to store a user’s biometric identification online for sharing across multiple platforms.
Users will be able to instantly verify with exchanges that have opted-in to the service. Oobit hopes exchanges will sign up when seeing the benefits of the system and the increased business it will bring them.
Oobit is a highly-secure digital currency exchange powered by Coinbase. It was launched in 2017 and with the aim to provide a peer-to-peer trading platform to crypto users. The company has raised over $1 million and is in the process of closing a new round of funding.
Oobit Chairman Moshe Schlisser says the company is aiming to simplify the cryptocurrency adoption process for new users. “Traders need a one-stop-shop to go to, where the best opportunities are shown to them — and they needed it yesterday,” he said in a recent interview with Forbes magazine.
Above and beyond Oobit Hunter, the company is hoping to offer its customers a prepaid crypto card. Currently, the platform only supports trading in Bitcoin but plans to add more assets in the future.