New Exchange Using NASDAQ’s Tech Announces Launch

New Exchange Using NASDAQ’s Tech Announces Launch

Another cyber-currency trading venue is entering the market. So this time it is reportedly powered by NASDAQ, one of the most prominent stock exchanges in the US.

Empowered By NASDAQ?

According to reports, dx.exchange is the first crypto bourse backed up by NASDAQ. Finance Magnates inform that it is to be launched already in June 2018.

Daniel Skowronski, the head of the yet-to-be-launched cyber-money exchange called the partnering with the American stock exchange a threefold benefit.

“The advantage of this cooperation is threefold: the brand name, the technology and the regulations,” said Skowronski.

The dx.exchange CEO also added that when it comes to technology, the bourse will lean on the infrastructure of NASDAQ. For instance, he said, that will be a matching engine which is also utilized by more than 70 trading venues all over the globe.

Trading Options

Regarding the regulations, the CEO said when collaborating with NASDAQ the exchange has to fit the top regulatory standards. Therefore, dx.exchange will dodge the most typical errors such as binary count trading. Moreover, it is expected that overall meeting the requirements will help the crypto-bourse prevent stumer volumes.

These standards comprise Estonian license, acquired not long ago and also a market maker license issued by the CySEC, a Cypriot controller. The exchange will be able to provide its clients with a wide variety of cyber-coins trading possibilities as well as to store the funds and deposits of the clients.

In the beginning, Americans will be barred from dealing with the problem, Skowronski said, as the company is still negotiating with the US regulators to obtain a federal permit.

So the bourse’s clients will get a chance to:

  • buy cyber assets for public currencies;
  • trade on a token-to-token basis;
  • swap cryptos back into public currencies;
  • withdraw the funds.

Skowronski said:

“We created a one-stop-shop for exchanging fiat and crypto, holding coins and as well as wallet services.”

For a start, there will be available only six cryptocurrencies for trading, including:

  • BTC
  • BCH
  • ETH
  • LTC

Later the exchange promises to increase the number of coins to 20-25 and add a couple of smaller tokens too.

No Fees?

The upcoming exchange promises not to imply fees on people who execute trading operations. However, all the traders will have to pay nearly 10 euros as monthly fees.

Other Services

At the same time, the KYC process will be completed by submitting an email and phone number. Thus, it is expected to be pretty fast.

Furthermore, there is going to be a private chat, offered by the platform, which will permit users to communicate with each other and “exchange views.” Also, the clients will be able to enjoy the aggregated newsfeed and info regarding crypto-assets.

Also, when it comes to security, the company promises to hire the best specialists in the niche to prevent cyber-attacks and other hacks. But most importantly, this issue will be addressed with the help of NASDAQ’s infrastructure. The time will tell how it all works out.

What To Expect From A Cryptocurrency Market In 2020
Crypto market has always been a good target for speculation, shady schemes, and "bad guys". It's also very controversial, especially for financial...
Influence of Recent Cryptocurrency Boom: Does It Still Hurt?
Crypto Exchange Gate.io Agrees With Reports Showing 51% Attack On Ethereum Classic Bitcoin is a decentralized digital currency (also known as...
Cryptocurrency Exchange Security Levels
The growing interest in cryptocurrencies has led to the emergence of a wide selection of both digital money and the sites where you can exchange one...
Belarusbank Considers Setting Up Crypto Exchange
Last year March Belarus introduced a decree by which it legalized cryptos and some activities related to them. This made Belarus a frontrunner in the...
Nasdaq CEO Believes Cryptos Have Place in Future in Economy
Almost two months ago Nasdaq’s representative Joseph Christinat confirmed the rumours that in 2019 the American stock exchange might launch BTC...
Report: Leaders of South Korean Crypto Exchange Komid Face Jail After Fraud
This week the Asian crypto-market has been rich in the news. Earlier it was reported that Japan finally approved Coincheck’s official status as cyber...
Crypto-Expert Brian Kelly Says 2019 Will Bring No Approval to BTC ETF
For the past year, various ETF-projects have been failing to receive the green light from American regulators. And despite the bullish ambitions of...
Ethereum Classic 51% Attacker Reportedly Returned $100,000 to Exchange
Cyber money exchange Gate.io has informed the general public about the return of previously stolen $100,000 worth Ethereum Classic units. According...
Approved Coincheck & Scrutiny on DLT: Japan and China Move in Different Directions
Asian countries seem to go in different directions when it comes to the regulation of cryptos and blockchain. Two Asian tigers — Japan and China...
Tokenized Shares of Apple, Tesla and Netflix to be on Crypto-Exchange
A new trading platform will soon be launched by an Estonian regulated exchange DX.Exchange. The company will mock the mechanisms that the American...