A new professional digital asset exchange – Singularity-X – has started live trading today. In the first stage, the exchange offers trading for the most popular cryptocurrencies – BTC, LTC, ETH, and DASH. Both crypto/crypto and crypto/fiat trading are available, with trade pairs available in USD and EUR. Additional cryptocurrencies and tokens will be gradually added.
The exchange is headquartered in the European Union, while clients wanting to trade a crypto/fiat pair will undergo the standard KYC/AML procedure. Singularity-X is now using trusted Thomson Reuters World-Check Risk Intelligence to help them meet their due diligence obligations, including requirements under KYC and AML legislation.
Initial information and details regarding the exchange were presented in March at the Money Asia 2020 conference in Singapore. The exchange has already signed contracts with several liquidity providers, and cooperation has been confirmed by miners from all over the world. Singularity-X will continue to expand its liquidity channels – enabling clients to access the very best prices in the market and for their orders to be processed swiftly.
Singularity-X guarantees a professional approach and support that responds to and resolves client issues within hours. “We take a pro-client approach. That’s why we offer high-quality service and support that listens to our clients and helps,” says Singularity-X’s CEO Peter Vrábel.
The exchange architecture was designed by a professional team (Match-Trade) with extensive experience in building Forex, financial derivatives, and CFD contract trading platforms, and who also know blockchain technology. The matching engine can process 20,000 trades per second. The security of digital assets is ensured by a combination of hot and cold wallets, where only a small portion of assets remains in the hot wallet and the remainder is safely stored in a cold wallet.
Over time the exchange will add more tradeable currencies. Multiple projects and cryptocurrencies have requested listings. “We will only sell individual currencies when we can offer our clients sufficient asset liquidity,” adds Mr Vrábel about the development strategy.
The company will make room for new currencies – even those that cannot be traded live yet – and offer innovation, simplification, or extension to the world of digital assets. One is the First Crypto ETF token. With this token, customers will be able to simultaneously participate in 10 digital assets.
The Next Generation Digital Asset Exchange. Founded in 2018, based in European Union. Singularity-X offers individuals and institutions the ability to trade digital assets such as Bitcoin, Litecoin, Ethereum and DASH. www.singularity-x.com
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