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Beaxy Launches Crypto Trading Platform By Diana Ngo - June 11, 2019 0 121open_in_new
After 24 months of development, cryptocurrency startup Beaxy Digital, Ltd. has officially launched its trading platform, which is now live to customers in 43 US states and 185 countries, the company said on Tuesday.
The platform currently supports trading pairs for 16 of the top digital assets, and comes with advanced features including TradingView charting within the exchange UI, a profit/loss calculator, the ability to manage multiple wallets per currency, in-platform portfolio management, and a tax reporting tool.
Designed with a strong focus on security, the exchange also comes with “the most advanced, state of the art security features,” including third party security audit, multi-signature protection, a blockchain sweeping protocol that minimizes exposure of funds to hot wallets, account monitoring and alerts, system health monitoring, distributed denial of service (DDoS) protection, and phishing prevention, the company says.
OneMarketData, a provider of software solutions for the financial industry, has built Beaxy’s matching engine on top of the its existing software. By leveraging OneMarketData’s OneTick platform, Beaxy is able to provide users with nine order types – with more to come soon – and the platform can reach transaction speeds of 225,000 per second per trading pair, “an order of magnitude faster than any other current digital asset exchange,” the company claims.
“Our implementation of OneMarketData’s OneTick technology has yielded impressive results, out-performing most engines in traditional financial markets and the cryptocurrency markets,” said Artak Hamazaspyan, CEO of Beaxy. “Through prioritizing user experience, security, regulatory guidance, and seamless functionality, I am confident we’ve built a best-in-class trading platform.”
After building Beaxy’s matching engine, OneMarketData deployed OneTick Surveillance, a compliance and regtech solution used by global banks, brokers, algo operators and stock exchanges.
All these integrations make the Beaxy cryptocurrency trading platform “on par with leading traditional exchanges” and able to meet global regulatory requirements, said Ross Dubin, global head of sales of OneMarketData.
“Beaxy’s ambition to build a top of the line cryptocurrency exchange made them an obvious partner,” he added.
In addition to leveraging technology provided by OneMarketData, Beaxy also uses know-your-customer (KYC) and anti-money laundering (AML) services provided by software-as-a-service (SaaS) company Mati. US-based alternative asset custodian Kingdom Trust supplies Beaxy with enhanced security and custodianship of assets services.
Founded in 2017, Beaxy Digital, Ltd. is building an all-in-one digital asset exchange aimed at providing users with “the ultimate trading experience in terms of trading customization and features, asset security, transaction speed, and customer support.”
The company claims more than 60,000 users pre-registered to the trading platform, and says it has raised US$8 million in funding, which will be used to expand operations in the US, enter the European market, and integrate fiat deposit and withdrawal capabilities.
Features and products scheduled to be released in the near future include a mobile app, the Initial Coin Offering (ICO) Launchpad and Incubator Program, and an over-the-counter (OTC) trading desk.
Beaxy Digital, Ltd. is registered in the country of Nevis in the Caribbean Islands and has a development team based in Armenia.