Entrepreneur Taiyuan “Popo” Chen quickly made a name for himself when he co-founded video streaming platform 17 Media in mid-2015, then achieved six million app downloads and closed a $10 million Series A funding round before the year was done. He was 24 years old. A year later after a $23 million Series B round, Singapore-based social networking platform Paktor bought a controlling stake.
He launched his next project in 2017: Cobinhood, an eccentrically named cryptocurrency service platform that is home to the world’s first zero-fee, high-frequency cryptocurrency trading platform.
When day trading across different crypto exchanges, Chen had found exchange fees quickly wiped out any profits he made, giving him the inspiration to found the company.
Cobinhood launched an initial coin offering in September 2017. Then in June this year, backed by California-based venture giant IDG Ventures, it launched transaction processing engine DEXON — which uses parallel blockchain systems that work together to give it the high speed and low latency required for mass adoption within the banking industry.
It’s early days, but Cobinhood’s ICO token has risen significantly from its initial price and is providing some revenue.
To read our earlier articles in the series, please click here.
