DX.Exchange, a NASDAQ-powered centralized crypto exchange, has joined hands with AlgoZ to provide market-making services and additional liquidity solutions on its exchange.
The exchange is scheduled to start its trading operations on January 7 and will allow both retail and professional investors to purchase crypto with fiat money, to trade on a token-to-token basis, as well as to convert the coins back to fiat and to withdraw it. AlgoZ, a Fingenom Group company, will provide liquidity on all cryptocurrency trading pairs listed on the exchange.
Commenting on this partnership, Daniel Skowronski, co-founder and CEO of DX.Exchange, said: “As we intend on being a leader in the world of cryptocurrency trading, we must ensure our customers receive the best-in-class liquidity solutions. AlgoZ superior technology and experience in providing liquidity solutions in both traditional and crypto markets, enhance our capabilities and enable us to deliver the high-quality products that our customers demand.”
DX.Exchange is a one of its kind crypto exchange as it is the first to be powered by the trusted technology of NASDAQ – used by over 70 exchanges worldwide. This will provide extra security to the crypto exchange especially in a time when even the major operating crypto exchanges are not fully secure.
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— DX.Exchange (@DXdotExchange) January 2, 2019
Last year, the exchange reported that 500,000 traders had already registered on the exchange completing their KYC processes.
Not for the US-Based Traders
The exchange holds a market-maker license, as well as a custodian under CySEC and is listed in Estonia – both EU jurisdictions operating under MiFID II. However, due to high regulatory standards associated with NASDAQ’s technology, DX.Exchange will not cater to the US traders at least for the time being.
The exchange has also partnered with the seed and series A venture firm NFX, last year, to grow and expand its services.
“We are honored to have been selected to provide DX.Exchange with our proven market making and liquidity solutions, which will help ensure that DX.Exchange traders are provided with consistent and attractive trade opportunities. We see the selection in AlgoZ as a vote of confidence in our services and technology and looking forward to providing our various liquidity solutions to the DX.Exchange community,” said Nir Dovrat, co-CEO of AlgoZ.