DX.EXCHANGE is launching the very first crypto exchange that will be powered by NASDAQ’s infrastructure.
The CEO Daniel Skowronski commented on the key advantages to using NASDAQ tech.
He said: “The advantage of this cooperation is threefold: the brand name, the technology and the regulations,”
The decision also enables the exchange to use NASDAQ’s matching engine which currently operates on 70+ exchanges around the world.
Working with NASDAQ ensures that the exchange will meet the highest regulation standards. This will in turn prevent fake volumes, common errors, bugs and double count trading.
Among those standards is a Estonian licence and a market maker licences from the Cypriot regulator CySEC. This will allow DX to offer trading options to its clients and allow for a variety of crypto trading options.
However the platform will have to exclude US customers, although the management is said to be in talks with US regulators with the intention of gaining a federal license.
The platform is expected to provide users with the ability to purchase crypto with fiat and allow for token-to-token trading. During the first phase of operation the platform is expected to list the top six coins such as Bitcoin, Bitcoin Cash, Ethereum and Litecoin.
The second phase is expected to bring 20 to 25 more tokens on board.
“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 platform is said to offer feeless trading, instead users will pay a monthly subscription of 10 euros.
The company itself is led by very experienced veterans of the financial industry and currently has 72 employees in its Israeli R&D team.