NASDAQ first crypto-exchange, based on its’ own developed infrastructure, will be launched in June this year and will offer users trading with zero commissions. It is called DX Exchange, and at the initial stage, in addition to bitcoin, it will support five other highly liquid assets.
“This cooperation [with NASDAQ] has three advantages: brand, technology, and regulation,” said Daniel Skovronsky, CEO of DX Exchange.
According to him, technology, based on the NASDAQ first crypto-exchange infrastructure, which includes, for example, the application meting engine, is used by more than 70 traditional exchanges. In addition, NASDAQ requires the stock exchanges to comply with the highest standards of regulatory and legal regulation, which avoids the most common errors of bugs and prevents the creation of fake trading volumes.
These standards, said Daniel Skovronsky, include the recently obtained license in Estonia, as well as the license of the Cyprus Securities and Exchange Commission (CySEC). Residents of the USA, however, will not be allowed to trade on the DX Exchange at this stage, although the company conducts a dialogue with US regulators to obtain the necessary license.
Speaking about the trading itself, the exchange offers to buy a currency for Fiat, trades between cryptocurrencies, and also converting coins back into fiat and its withdrawal.
“We created one service for exchanging Fiat and Cryptocurrency, storing coins and wallets, “, added the head of DX Exchange.
At the initial stage, it is planned to add six leading assets, including Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. In the future DX Exchange intends to add other 20-25 coins, as well as some small tokens, while, as Daniel Skovronsky insists, it will be only those assets that really have value.
Earlier, the results of a study conducted by the eToro social trading platform showed that the vast majority of cryptocurrency traders do not have previous trading experience on stock exchanges.