A cryptocurrency exchange using Nasdaq’s technology is drool-worthy. It has been revealed by Finance Magnates Publication to be launched on June 14th.
Nasdaq is known to be the second largest stock exchange in the world regarding market capitalization. On April 25th, 2018 Nasdaq told CNBC that it is considering becoming a crypto exchange over time.
The technology behind Nasdaq will help power the new centralized crypto exchange called DX.
CEO of DX Daniel Skowronski said that this upcoming centralized exchange is a “one-stop shop” for “exchanging fiat and crypto, holding coins and as well as wallet services.”
The best part about DX according to the report is that it will not charge a fee for trading. It will open with the top six cryptocurrencies which are Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. Afterward, it plans to add another 20 to 25 more coins with smaller tokens included.
The CEO of DX, Skowronski is looking at bringing value to the cryptocurrency exchange by saying, “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.”
DX as of now will not be available to US investors. However, it might be in the future depending on how the talks with US regulators proceed.
With safety being an important issue that needs to be tackled, Nasdaq’s infrastructure will address it. Skowronski is also going all out in hiring specialists to avoid hackers and irritating malicious attacks.
“People are looking for security and safety. We’re trying to be very clear so that the customers will know what they are getting,” Skowronski added.
DX will have three experienced veterans running it, with Skowronski who served before as the CEO at OANDA Europe and Americas, Raz Kaplan acting as the COO has previous experience as head of Risk Management at SpotBroker and CTO Yaron Ben Shoshan who is the Director of Strategic Development at Forex Manage.
DX Exchange has currently hired 72 employees in Israel for its research and development team to help set up the platform for the future.
Image Source “Flickr”