Bitsdaq co-founder Adam Cole Jacobs has teased “lots of stuff will be announced this year. A lot of companies you will know. I think it’s going to be a pretty exciting year.”
Coin Rivet recently interviewed Jacobs following the launch of the Bitsdaq exchange platform.
Bitsdaq’s recent launch comes after the announcement of its partnership with major US exchange Bittrex. During the pre-launch, Bitsdaq received “tens of thousands of pre-registrations.”
To add to this impressive popularity, Jacobs tells us Bitsdaq had “100,000” members in its Telegram group after just seven days.
Commenting on the significance of the partnership, Jacobs reveals it will allow Bitsdaq to tap into “Bittrex’s amazing technology” and “custodianship.”
Bittrex will be handling Bitsdaq’s back-end technology alongside storing customer funds as part of its third-party custodian ownership.
Bittrex is already well established, and through the partnership, Bitsdaq will be able to access its liquidity and share order books.
This will provide Bitsdaq with a “leg up” compared to exchanges that have had to build up their own liquidity.
‘Bittrex is the best in the business’
Jacobs states that part of the reason behind the partnership lies in the belief that Bittrex is “in almost every fashion” the best when it comes to regulation and compliance, and he is “honoured” to have secured Bittrex as a partner because it “isn’t something they do with anybody, it’s a very diligent process.”
Bittrex is host to top-notch talent in the field, including top cybersecurity engineers, ex-White House officials, and even the former deputy counsel for Homeland Security, Kiran Raj.
On this basis, Bitsdaq has “a lot of faith in them.”
Bitsdaq will be onboarding ‘Know-Your-Customer’ (KYC) and other similar processes while Bittrex will deal with cold storage.
Jacobs himself is well-connected within the space, and he is good friends with Anthony Di Iorio, co-founder of Ethereum.
He notes: “The only reason I’m in the space is because of him (Di Iorio), in the sense that he got me exposed to it.”
A lot of upcoming features
Bitsdaq is currently developing a lot of new features, including an app that will help attract more users to the platform.
“We’re building an app where you can trade on your phone. So we are definitely going to keep ramping things up,” he comments.
“We’ll just keep adding features, so yeah fiat, maybe different kinds of fiat. Maybe we’ll add a credit card to that also, maybe we’ll add an app. We’re just going to keep making it more appealing to get more users.”
As of writing, Bitsdaq currently only supports a few select cryptocurrencies, but Jacobs hopes to add more in the near future.
‘It’s going to be an exciting year’
Jacobs goes on to state that Bitsdaq’s goal is to find the best projects to help grow the brand in Asia. While Bitsdaq has access to the tokens listed on Bittrex international, Jacobs reiterates that in no way are they trying to compete with Bittrex.
“We are a partner of theirs, and we are focusing on markets where they have no intention of reaching,” Jacobs adds.
He comments on how Bittrex recently announced their European partnership, which is “great” for them. This is because rather than “opening up an office in Europe, we can work with our partner in Europe and share liquidity in that way.”
When quizzed on any future partnerships or announcements, Jacobs informs us that “lots of stuff will be announced, a lot of companies you will know, and I think it’s going to be a pretty exciting year.”
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Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.