Ibinex Joins Australian Blockchain Group, Launches New Platform Version

Ibinex, a distributor of white label cryptocurrency exchange software, has launched the "v2" version of its platform and gained membership to the Australian Digital Commerce Association.

White Label and Customer Management

Ibinex sells fully set-up cryptocurrency exchanges which buyers can rebrand and manage for themselves. As the Ibinex website advertises: "Your own EU licensed private label Crypto Exchange in 3 weeks."

It describes itself as an "As an Exchange-to-Exchange Ecosystem", meaning that it is primarily offering this service to pre-existing financial companies.

Simon Grunfeld, founder and executive director of Ibinex, told Finance Magnates that the new version of the platform will feature a fully integrated customer relationship management (CRM) system that will allow exchanges to better organise customer data. It will also have improved versions of its KYC/AML systems, better Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term connections, and improved user interface software.

Grunfeld said that the company is putting more of an emphasis on transparency, publishing the identities of members of its management team and details of its three-year roadmap. "Ibinex’s new site is live, proudly displaying our v2 platform, leadership, licenses, our regulatory status(s) and our plans for the future," he said.

Two weeks ago it also published its own white paper.

The Ibinex White Paper is Ready for Review. Enjoy.https://t.co/JI6MhTzs5y pic.twitter.com/VNRWK7XLxs

— Ibinex (@IbinexExchange) August 16, 2018

Australian Connection

In addition to these updates, Ibinex recently became a member of the Australian Digital Commerce Association, a non-profit Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term advocacy organisation with the stated purpose of turning Australia into a leading blockchain economy.

According to its website, it has 58 member companies, which are defined as "businesses that are directly implementing blockchain or distributed ledger technology within their business or planning to do so." Included on the list are American multinational corporation Johnson & Johnson, computer giant IBM, and 'Ibinex Financials Estonia OU'.

Said Grunfeld: "This new membership is part of our strategy to join groups focused on the responsible adoption of blockchain technology and innovation across all sectors of the crypto economy."

Financial Commission

In March 2015, Ibinex became the first cryptocurrency company to be accepted as a member by the Financial Commission, which is a self-regulatory organisation for the foreign exchange industry. The FC has offices in Hong Kong and St. Vincent and the Grenadines.

Grunfeld is also the head of the FC's ICO Certification Committee. Ibinex itself offers a 30-day ICO launch programme, according to Cryptovest.

Grunfeld told Finance Magnates that its Estonian licence and two aforementioned memberships are "only the start of [Ibinex's] regulatory journey," - according to its own white paper, it also aims to achieve licences in the US and Asia.

From St. Vincent and the Grenadines to New York

Ibinex was first launched as a service providing access to Bitcoin liquidity to foreign exchange companies. At that time it was headquartered in St. Vincent and the Grenadines. Now it has offices in New York, Israel, Panama, Manila, and Estonia.

It received its Estonian licence in June 2018. This licence enables companies using its template to receive all aspects of a cryptocurrency exchange, and more importantly, EU regulation. This regulation includes banking, exchange and wallet approvals, according to the Ibinex white paper.

The constituent parts of the exchange which Ibinex offers include a custodianship service, fiat to cryptocurrency processing, and cold and hot wallets - meaning offline and online cryptocurrency storage respectively.

The website says: "As an Ibinex white label, you're [sic] B2C strategy of crypto liquidity, wallets, KYC/AML, OTC, banking and custodial services, is complete."