Bitrump, a UAE-based crypto platform, on Monday announced the launch of its white-label solutions, easing local digital asset exchanges’ efforts in starting operations.
The exchange rolled out these new services after rising demand from “many large banks and fin-tech companies based out of the UAE” for white label solutions and infrastructure for hosting their crypto exchanges.
Mentioning the white-label offerings, Raj Chowdhury, the executive director of Bitrump, said: “Bitrump has been offering its white label cryptocurrency exchange software and associated architecture to enterprises who are using the product to run their own crypto exchange.”
“What’s more interesting, is a sudden surge in demand from large banks and fin-tech companies, who wish to have their own crypto exchanges to meet their retail customer’s growing demands to trade in cryptocurrencies.”
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The announcement also detailed that Bitrump’s proprietary white label software packages include support for an array of popular cryptocurrencies, including Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Tether. Clients can also raise requests to add more digital currencies and can also customize their individual platforms.
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The UAE-based exchange is boasting about the security of its platform, which includes “bank-level encryption and security features to protect customer data from potential hackers.”
The white-label platform will offer an end-to-end solution with features like 3-point architecture, a hot wallet feature, a multi-signature cold vault, monitoring and logging, DDoS Mitigation, data encryption, firewall protection, identity, and access controls.
White-label platforms for crypto are gaining popularity lately as demands for such services are increasing. Huobi, a major Singapore-based crypto exchange, is already offering such services in the Middle East and North Africa (MENA) region, while players like Binance, BitFury, and KuCoin also entered the market with such offerings.