Excoino

Excoino is an Iranian cryptocurrency exchange founded in 2017 that provides spot trading, staking, and OTC services to Persian-speaking users, with the Iranian Rial as a primary base currency and support for over 135 digital assets.

What It Is and the Problem It Solves

Access to global cryptocurrency markets has historically been complicated for Iranian users due to international sanctions and the near-total exclusion of Iranian residents from major exchanges such as Binance, Coinbase, and Kraken. Excoino was built specifically to fill that gap: a domestically operated platform that accepts Iranian Rial (IRR), integrates with local payment infrastructure, and operates entirely in Persian while offering the asset breadth associated with larger international exchanges.

The platform is operated by Tofaad (توسعه فن آوری آرین داده پیوسته ایرانیان), a knowledge-based company specializing in blockchain and cryptocurrency services. Tofaad holds a knowledge-based license issued by Iran's Vice Presidency for Science and Technology — a designation the Iranian government grants to technology-focused firms — though this does not constitute internationally recognized financial regulation.

How It Works

Excoino operates as a centralized exchange with several distinct trading mechanisms:

Spot market: Standard order-book trading with maker and taker fees between 0.1% and 0.13%. Users can place market, limit, and OCO (one-cancels-the-other) orders with take-profit and stop-loss parameters.

Instant/quick market: A simplified interface for direct buys and sells at a flat 0.2% conversion fee, designed for users who do not want to interact with an order book.

OTC market: A peer-to-peer trading desk for high-volume transactions where large orders are matched outside the standard order book, reducing slippage for sizeable trades.

Practice market: A simulated trading environment that mirrors live prices, allowing new users to learn order placement and portfolio management without risking real funds.

All of these interfaces are accessible via web browser and through mobile apps distributed on Google Play, the Apple App Store, and Iranian-specific platforms including Cafe Bazaar and Sibapp.

Key Features

• Staking: Users can lock supported cryptocurrencies — including SOL, BTC, ETH, and others — for fixed terms of 30, 90, or 180 days in exchange for annual yields the platform quotes at up to 21–28%. The staking product is custodial; Excoino holds the assets during the lock period.

• Participation funds: Excoino offers pooled investment products distinct from staking, with stated returns of up to 50% annually. These function more like managed yield vehicles than simple staking pools, though the underlying strategy details are not publicly disclosed.

• Uranus plan: A long-term investment product positioned for users seeking extended lock periods with higher advertised returns.

• Mobile-first design: Persian-language apps with push notifications for price alerts, order fills, and account activity are central to the platform's user experience.

• Real-time price notifications: Users can set custom price alerts across their watchlist.

• 24/7 customer support: The platform claims round-the-clock support via its contact channels, though user reviews suggest response quality is inconsistent.

Supported Assets and Trading Pairs

Excoino lists over 135 cryptocurrencies. Confirmed supported assets include Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Tether (USDT), Solana (SOL), Cardano (ADA), Polkadot (DOT), Starlink (STARL), and AWE Network, among others.

Base trading pairs are denominated in Iranian Rial (IRR), Tether (USDT), and Bitcoin (BTC). The availability of IRR pairs is the platform's primary differentiator from international alternatives.

Network support is a critical limitation. Despite listing SOL and other multi-chain assets as tradeable, Excoino only processes deposits and withdrawals over three networks: Ethereum (ERC-20), Tron (TRC-20), and Binance Smart Chain (BEP-20). Sending tokens via the Solana native network, Polygon, Arbitrum, Avalanche, or other chains to an Excoino address risks permanent loss of funds. SOL traded on Excoino is held as a representation of the asset and must be deposited or withdrawn as a wrapped or bridged equivalent on a supported network.

Security and Audit Status

Excoino has no publicly disclosed security audits from independent third-party firms. WikiBit's assessment of the exchange as of mid-2026 assigns it a score of 0.00/10 and flags two risk alerts — one high-severity and one medium-severity — specifically around fund security. The exchange carries no internationally recognized regulatory license.

User-reported security incidents include asset freezes that some customers linked to geopolitical events in September 2024, with multiple Trustpilot reviewers claiming their accounts were blocked and funds made inaccessible. The platform's Trustpilot profile holds a 2.2 out of 5 rating across 9 reviews, with 78% of reviewers assigning a single star. Recurring complaints cite withdrawal delays exceeding two weeks for both fiat and cryptocurrency, automated and unresponsive customer support replies, and unresolved deposit discrepancies.

These user-reported concerns should be weighed carefully by anyone considering depositing substantial funds on the platform.

Team and Background

Excoino was founded in December 2017 and operates out of Tehran, Iran. The parent company, Tofaad, describes itself as a knowledge-based entity composed of blockchain and cryptocurrency specialists. As of mid-2026, Tracxn records approximately 34 employees at the company. No founders or board members are publicly identified in English-language sources. The company has raised no external funding and has made no recorded acquisitions or investments.

The platform positions itself as one of the longer-running cryptocurrency exchanges in the Iranian market, with over seven years of operating history as of 2026 — a meaningful credential in a domestic market where exchange failures and exit scams have occurred.

Solana Fit

Solana (SOL) is listed as a tradeable asset on Excoino and is included in the platform's staking program, where it can be locked for 30, 90, or 180-day terms. This means Iranian investors can gain price exposure to SOL and earn yield on it through Excoino's custodial staking offering.

However, Excoino's connection to the Solana ecosystem is purely at the asset level, not the protocol level. The exchange does not operate on the Solana blockchain, does not use Solana-native programs, and does not support Solana network deposits or withdrawals. There are no Excoino programs registered on-chain. Users wishing to move SOL in or out of the platform must use ERC-20, TRC-20, or BEP-20 wrapped equivalents, and sending SOL over the native Solana network to an Excoino address will result in lost funds.

Excoino's relevance to Solana Compass is therefore limited to its role as one of the few routes through which Iranian users can acquire and hold SOL exposure in a regulated (domestically) environment. The exchange is not building on Solana, does not integrate Solana DeFi, and has no known plans to add native Solana network support.