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Folgory

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About Folgory

Folgory Exchange

Folgory Exchange is a centralized cryptocurrency trading platform that launched in May 2019. Initially based in Estonia and later registered in the Seychelles, it offers crypto-to-crypto and fiat-to-crypto trading, along with additional financial services like IBAN accounts and prepaid debit cards.

Key Features

  • Fiat Support: Offers deposits and withdrawals in EUR, GBP, and USD.
  • Folgory Coin (FLG): The platform’s native token, operating on Binance Smart Chain (BEP-20).
  • FolgoryUSD (USDF): A stablecoin backed by reserved assets, intended for payments and on-platform transactions.
  • Banking Services: Provides users with IBANs and debit cards for seamless crypto-fiat integration.
  • Cloud Mining and Staking: Features additional financial products like staking rewards and cloud mining options.

Considerations

  • Licensing: Previously licensed in Estonia; now registered in Seychelles with claims of AML compliance.
  • Transparency: Trading volume is untracked on major aggregators, raising concerns about transparency.
  • Community Feedback: Users have raised flags on public forums about trust and withdrawal delays.
  • Security Information: Limited public details on wallet custody or platform security practices.
  • Accessibility: Supports both web and mobile interfaces, but availability and service quality may vary.