BlockEx, a blockchain startup that caters to financial institutions, has announced the activation of its cryptocurrency exchange and that Sublime Group, a digital asset management company, has begun market making operations on it.
“A core part of any mature exchange”
BlockEx provides blockchain services to financial institutions. Its services are three: a cryptocurrency exchange building service, an ICO marketplace connecting projects and investors, and a digital bond service which uses blockchain technology to manage investor-to-company loans. It with this first service, called ‘BlockEx Markets’, that Sublime Group is involved.
Sublime Group, which calls itself “the worlds [sic] leading end-to-end solution in helping business [sic] raise funds through tokenization and the creation of digital assets,” is now performing the function of the market maker on BlockEx Markets. A market maker is a member firm of an exchange that keeps the market liquid by buying and selling securities (or tokens).
BlockEx CEO Adam Leonard said: “Market Making is a core part of any mature exchange and we are particularly delighted to welcome Sublime Group aboard to our market maker program because they are a great fit for our business.”
Dubai to Luxembourg
The BlockEx exchange allows the trading of Bitcoin, Ethereum, Digital Asset Exchange Token (DAXT), and Reality Clash Coin (RCC) against the euro. DAXT and RCC are not listed on coinmarketcap.com, but the former trades on HitBTC as well as its native marketplace. According to the BlockEx website, each DAXT token costs one euro, and there are 130 million of them available.
Holders of DAXT have access to the pre-sales of projects listed on the BlockEx ICO marketplace.
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The firm, which has offices in London, Sofia and Luxembourg, raised over $24 million funding in January 2018, and $28.4 million in its ICO in February. In July 2018 it was one of the 29 (of 69) that won a place on the development programme of the UK’s Financial Conduct Authority.
It is also a member of the Wall Street Blockchain Alliance, a non-profit cryptocurrency advocacy organisation.
Sublime Group is a Dubai-based company which deals in digital asset management. According to its website, it offers services such as capital raising, consulting in brand strategy consulting, ICO strategy, consulting, personalised marketing campaigns, legal/compliance, tax services, and technology development.
Clients listed on its homepage include Polymath, which aims to enable “trillions of dollars of securities to migrate to the blockchain”, All Public Art, which wants to build a blockchain-based art marketplace, and Datum, a data-storage company that was endorsed by William Shatner. According to its website, its clients have a total market capitalisation of $714.5 million.