Cryptocurrency exchange ZBX (ZillionBitsExchange) has launched to the public after an announcement ceremony in Davos, Switzerland.
According to a press release, ZBX is one of the “first exchanges worldwide to go live in a regulated environment.”
ZBX is supported by and utilises the technological infrastructure of ZB.com, which has been among the three largest exchanges in the world with trading volumes north of $300 million daily.
ZBX boasts a deep pool of liquidity for European users, in accordance with regulatory requirements that the exchange needs to abide by during the transitory period prior to being fully licensed.
The company CEO is the former institutional trader Dave Pulis, who sees an opportunity to bridge the gap between institutional finance and the cryptosphere.
“We are now going live as one of the first exchanges to operate in a regulated environment and expect to have acquired our licenses during the transitory period of the Maltese regulatory framework. We believe regulation is important for the cryptosphere to evolve as it breeds a secure and reliable environment for the users,” says CEO Dave Pulis.
The platform accepts deposits and withdrawals in EUR and tradeable fiat pairs, and stablecoins will follow shortly. In order to stay committed to its firm goal of becoming the largest pool of liquidity in the world, ZBX is stringent on its listing policies.
“ZBX will only list projects which meet our stringent criteria. Users will have a say over which projects are listed and we will ensure that there is enough liquidity for any pair listed on the exchange,” Pulis added.
ZBX, who are headquartered in blockchain-centric Malta, has plans to become licensed by the financial authority under MiFID II in order to be able to list Security Token Offerings (STOs) at a later stage.
In 2019, ZBX is planning to launch prepaid debit cards and an OTC desk where financial institutions can register to execute large-scale OTC transactions.
“We are confident that what we bring to the market solves many known problems within the cryptosphere. On our platform, users will engage from a regulated environment with strong consumer protection, gain access to a deep pool of liquidity through our quest of attracting institutional money onto the platform, and benefit from our generous referral program. This is what we believe is necessary for crypto markets to once again flourish,” says Pulis.
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