- “The advantage of this cooperation is threefold: the brand name, the technology and the regulations,” says CEO of DX exchange.
- DX exchange has an Estonian license and a market maker license issued by Cypriot regulator, CySEC.
Cryptocurrency exchanges have become a profitable business lately. Wall Street is slowly warming up to the cryptos and those with an interest in virtual currencies have expressed their desire dive into the exchange business. DX Exchange is a new cryptocurrency exchange that is set to open doors in the coming month. It has the advantage of being powered by the second largest currency exchange in the world, NASDAQ. DX Exchange CEO, Daniel Skowronski said, in a comment to Finance Magnates “The advantage of this cooperation is threefold: the brand name, the technology and the regulations,”
The exchange has adopted the technology infrastructure by NASDAQ, which is used by over 70 exchanges around the world. The CEO says that the partnering with NASDAQ will require them to comply with regulations, besides, it will ensure that they stay away from common bugs, errors and eliminate fake volumes. The exchange has acquired a license from Estonia in addition to having a market maker license issued by Cypriot regulator, CySEC. The company is working on acquiring a federal license, but in the meantime, US customers will not be allowed on the exchange.
“We created a one-stop-shop for exchanging fiat and crypto, holding coins and as well as wallet services,” said Skowronski.
While commenting on the way they intend to coins for listing, the CEO said:
“We are supporting blockchain technology. And the way we can help this ecosystem to progress is by vetting the tokens and making sure the good ones are promoted. We are not going to list coins, just because they pay us. Those who are worthy – will be listed.”
The exchange will not impose trading fees on activities on the platform, however, the users will be required to pay a monthly fee of about 10 euros. For KYC, phone number and email will be required “Without undermining the necessary KYC and AML components, required by the regulator,”
BEST BROKERS TO TRADE CRYPTO
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.