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.