The crypto money sector is entering a brand new stock market.
This stock market, Dx.exhange, will open next month and this crypto money exchange is supported by NASDAQ . Daniel Skowronski, CEO of DX Exchange, stated that "the advantages of this stock exchange are threefold" and these are:
- Brand name
- Legal regulations
The brand name 's part is based on the stock market itself. But in the "technology" part, the infrastructure of NASDAQ is utilized.
Visual: Finance Magnates
If the stock market is to come to the 'Regulations' section, it will be beneficial to NASDAQ here too. I can say.
DX Exhange, both in Estonia and in Cyprus as a legal regulator in the request of NASDAQ, is demanding that the stock market comply with any existing standards,
US investors will not yet be able to benefit from the stock market, but the board's executives will not be able to get hold of the US regulators
Customers using DX Exchange will be able to buy crypto money with nominal money, trade token-based trading, convert their coins to nominal currency and withdraw their money. "
At least at the initial stage of the stock market, Bitcoin, Bitcoin Cash, Ethereum, and Litecoin, as well as some of the co-owners of Skowronski,
The stock market will increase the number of coins it supports in the future to 20-25, and the tokens, which can be counted as small, will also be supported. "We support Blockchain technology. Skowronski said: "We will not start to support the koin just because they are giving us money." "We have to research the tokens thoroughly to contribute to this ecosystem.
Coins who wish to be listed on the stock exchange need to apply to the stock market and pass the three-step process:
- First application
- : investigation of team and whitepaper
Any transaction on the stock market will not be charged, but traders using the stock market will have to pay about € 10 per month. According to Skowronski the customer-diagnostic (KYC) process will require users to provide their email addresses and phone numbers. Skowronski said that "the necessary KYC and AML standards required by the authorities will be taken into account" stressing that the process will be extremely friendly and fast.
One of the biggest concerns of the crypto money markets is possible hacking attacks. The stock market will benefit from NASDAQ's infrastructure to develop in the field of cybersecurity and take measures against possible hacking attacks. Skowronski's comment on this is as follows:
"People want security and protection.
At the same time, there will also be a conversation on the platform, so that users can interact with each other.
DX Exchange is currently managed by three people: Skowronski, Raz Kaplan and Yaron Ben Shoshan. Skowronski served as general manager and CEO of OANDA's European and American units, worked at SpotBroker's risk management unit at Raz Kaplan's time, and Ben Shoshan was Director of Strategic Development for Forex Manage
Source: Finance Magnates