Exclusive: Ex-CEO of Admirals Launches DEX White Label Solution on Solana

Thursday, 19/09/2024 | 09:00 GMT by Damian Chmiel
  • Victor Gherbovet, FirstByt's CEO, introduced a platform that aims to bridge decentralized and traditional finance.
  • As Finance Magnates learned, after starting on Solana, it will also expand to other chains.
Victor Gherbovet, the CEO and Co-Founder of FirstByt
Victor Gherbovet, the CEO and Co-Founder of FirstByt

In the first half of this year, Victor Gherbovet, who previously collaborated with the FX/CFD broker Admirals for over a decade, decided to launch his own software-as-a-service (SaaS) technology company, FirstByt. Now, as Finance Magnates exclusively learned, the company is introducing a white-label solution for firms looking to launch their own decentralized cryptocurrency exchange (DEX) within a few days.

FirstByt Launches DEX White Label Solution on Solana, Eyes Multi-Chain Expansion

FirstByt unveiled its first products in April this year, though the company had been in development for the past few years. Now, as Finance Magnates has learned, the company is introducing one of the first DEX white label solutions on the market, dubbed DexTrader.PRO starting with the Solana blockchain .

The platform, which can be deployed in just 24 to 48 hours, offers a suite of customizable features including SWAP functionality, limit orders, and dollar-cost averaging (DCA) tools. As Gherbovet stated exclusively for Finance Magnates, this fast setup time represents an important shift in an industry where DEX deployments typically require more extensive timeframes.

The look of white label DEX. Source: FirstByt
The look of white label DEX. Source: FirstByt

“While we're starting with Solana due to its high-speed and low-cost transactions, we're actively planning to expand to other prominent blockchains like Ethereum, Binance Smart Chain, and Polygon,” the FirstByt’s CEO and Co-Founder added.

However, the move towards multi-chain compatibility is part of FirstByt's strategy to bridge the gap between decentralized finance (DeFi) and traditional finance (TradFi).

“We're aiming to introduce decentralized money management features alongside traditional financial instruments like Forex, commodities, and Indices, creating a comprehensive solution for both crypto-native traders and those transitioning from traditional markets,” Gherbovet shared.

FirstByt's white-label solution offers customization options for businesses. These include user interface personalization, feature selection, and the ability to set custom commission and fee structures. “Our goal is to provide businesses with the flexibility to tailor the platform to their specific needs while leveraging our robust technology,” Gherbovet added.

Security also remains a priority for FirstByt. The platform incorporates multiple layers of protection, including smart contract audits, decentralized custody, and encryption measures to safeguard users and their assets.

The launch of FirstByt's DEX solution comes at a time of growing competition between decentralized and centralized exchanges. As the crypto industry places increasing emphasis on security and transparency, DEXs are emerging as viable alternatives to traditional centralized platforms.

Gherbovet is not the only former Admirals executive who decided to go independent this year. Previously, Bartosz Bielec, a market veteran with 20 years of experience, launched a new CFD business named Prime Quotes. Bielec had previously served as a long-time director and Board Member at Admirals and was also the Chief Commercial Officer at Alpari.

In the first half of this year, Victor Gherbovet, who previously collaborated with the FX/CFD broker Admirals for over a decade, decided to launch his own software-as-a-service (SaaS) technology company, FirstByt. Now, as Finance Magnates exclusively learned, the company is introducing a white-label solution for firms looking to launch their own decentralized cryptocurrency exchange (DEX) within a few days.

FirstByt Launches DEX White Label Solution on Solana, Eyes Multi-Chain Expansion

FirstByt unveiled its first products in April this year, though the company had been in development for the past few years. Now, as Finance Magnates has learned, the company is introducing one of the first DEX white label solutions on the market, dubbed DexTrader.PRO starting with the Solana blockchain .

The platform, which can be deployed in just 24 to 48 hours, offers a suite of customizable features including SWAP functionality, limit orders, and dollar-cost averaging (DCA) tools. As Gherbovet stated exclusively for Finance Magnates, this fast setup time represents an important shift in an industry where DEX deployments typically require more extensive timeframes.

The look of white label DEX. Source: FirstByt
The look of white label DEX. Source: FirstByt

“While we're starting with Solana due to its high-speed and low-cost transactions, we're actively planning to expand to other prominent blockchains like Ethereum, Binance Smart Chain, and Polygon,” the FirstByt’s CEO and Co-Founder added.

However, the move towards multi-chain compatibility is part of FirstByt's strategy to bridge the gap between decentralized finance (DeFi) and traditional finance (TradFi).

“We're aiming to introduce decentralized money management features alongside traditional financial instruments like Forex, commodities, and Indices, creating a comprehensive solution for both crypto-native traders and those transitioning from traditional markets,” Gherbovet shared.

FirstByt's white-label solution offers customization options for businesses. These include user interface personalization, feature selection, and the ability to set custom commission and fee structures. “Our goal is to provide businesses with the flexibility to tailor the platform to their specific needs while leveraging our robust technology,” Gherbovet added.

Security also remains a priority for FirstByt. The platform incorporates multiple layers of protection, including smart contract audits, decentralized custody, and encryption measures to safeguard users and their assets.

The launch of FirstByt's DEX solution comes at a time of growing competition between decentralized and centralized exchanges. As the crypto industry places increasing emphasis on security and transparency, DEXs are emerging as viable alternatives to traditional centralized platforms.

Gherbovet is not the only former Admirals executive who decided to go independent this year. Previously, Bartosz Bielec, a market veteran with 20 years of experience, launched a new CFD business named Prime Quotes. Bielec had previously served as a long-time director and Board Member at Admirals and was also the Chief Commercial Officer at Alpari.

About the Author: Damian Chmiel
Damian Chmiel
  • 1832 Articles
  • 41 Followers
About the Author: Damian Chmiel
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
  • 1832 Articles
  • 41 Followers

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