The CEO of the blockchain-powered financial institution trade.io, Jim Preissler, announced Sunday that the company’s flagship exchange will be launched on July 17, 2018. The announcement was made at the trade.io-sponsored Bloomberg event “The Future of Cryptocurrencies” in London.
The exchange will allow traders to complete transactions with trade.io’s cryptocurrency, the Trade Token (TIO), across forex, commodities, precious metals and cryptocurrencies.
Initially, only 1,000 people will be able to use the exchange in its BETA version. Traders can register to use the exchange now and the selected investors will be emailed days before it goes live.
Preissler said: “We are thrilled to announce the launch of our trade.io Exchange. The community has been eagerly waiting, so it gives me great pleasure to announce that we will finally launch on 17th July. It will be a staggered launch to 1,000 people initially, with future clients to be on-boarded in the days to follow.”
“Following the BETA version of our Exchange where select members tested the platform, we are confident that we will satisfy the specifications stipulated to us by our community, and look forward to sharing in the successes of our upcoming official Exchange.”
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In the lead-up to the launch on Wednesday, the company also announced a range of new security measures to protect the exchange from would-be hackers.
Some of the measures implemented include multi-layered protection for users, requiring several layers of authentication when signing into the platform, extensive risk assessments, penetration tests and bank-level security monitoring systems.
On Wednesday, trade.io’s Head of Security, Ari Propper, said in a statement: “We are using innovative industry-leading technologies to detect, protect and respond quickly to cyber events.”
“We have a team of experts with vast knowledge and experience in the cybersecurity field as well as deep and strong connections in the industry that allows us to consult, review and test relevancy of cybersecurity technologies continuously. We are treating cyber defence as an ongoing process and integrating it in all of the development and business activities.”
The company is also in the process of launching its liquidity pool. Trade.io will pay out interest to token holders on a daily basis from this pool, with the amount varying according to many variables.