NASDAQ To Power New Cryptocurrency Platform

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A new type of cryptocurrency exchange fuelled by the powerful NASDAQ matching engine will launch in June.

DX Exchange will give consumers the option of buying a dual online and offline account that accepts major fiat currencies and cryptocurrency.

The exchange will also have a platform for OTC derivatives and digital currency tokens as well as coins.

The underlying NASDAQ technology is seen as vital for the project.

The matching engine is the system driving more than 70 stock exchanges around the world and offers state-of-the-art security, technical innovations and a fast, seamless across different countries.

DX Exchange will not charge trading fees in favour of charging a monthly 10-euro subscription to traders to lure consumers from around the world.

Closed to US traders

CEO Daniel Skowronski said: “Crypto enthusiasts shouldn’t have to pay more than a minimal membership charge to trade with their peers, and they shouldn’t have to trade in an unregulated and unsecured environment.

“The combination of NASDAQ technology and the DX Exchange interface is one that will create a one-of-a-kind, fair trading experience, that puts the traders first.”

DX Exchange will have six cryptocurrencies listed on opening day including Bitcoin, Bitcoin Cash, Ethereum and Litecoin – but this will stretch to more than 20 soon after.

Skowronski also expects to offer more tokens after they have passed a strict vetting procedure.

The exchange is closed to US traders, but is fully licensed by the Estonian Financial Services Authority (EFSA) and CySEC, the Cypriot market maker regulator.

eToro moves into digital currency

Global fintech firm eToro is expanding cryptocurrency activities into the US.

CEO Yoni Assia has confirmed the company will launch a digital currency exchange and electronic wallet globally and in the States.

eToro will open an online trading platform in the US with an offering of 10 different cryptocurrencies.

“US crypto holders have a strong appetite for diversified portfolios,” said Assia.  “we’re committed to offering the best tools and assets to help them manage their investments all in one place.”

eToro claims to be the world’s largest social trading network with more than 6 million registered users.