Bitovation Corp, the operator behind Ovato, designed the cryptocurrency to bridge the gap between blockchain technology and local merchant rewards programs. By integrating into Toobit, Ovato intends to improve liquidity and accessibility for its user base across North America and Europe. The token is already available on P2PB2B and Coinstore, serving as a store of value and a medium for peer-to-peer transactions.

Toobit, which entered the market in 2022, anchors its platform on a security-first architecture. The exchange reports that over 95% of user assets are held in offline, air-gapped cold wallets requiring multisignature authorization. Beyond cold storage, the platform maintains a Proof of Reserves valued at more than $80 million and operates a $45 million Shield Fund to mitigate potential trading risks. Users can also leverage Toobit’s API for automated trading or access high-leverage futures contracts reaching up to 200x.