Beaxy has declared the release of its Cryptocurrency trading platform on June 11 in a press release.
The firm has been working on this project since the last 24 months, cryptocurrency startup Beaxy Digital, Ltd. has finally released the trading platform and it is now live in 43 US states and 185 countries. In the last two years of development, the company has obtained more than 60,000 pre-registered users.
The platform presently supports trading pairs for 16 of the top digital assets, provides advanced features along with TradingView charting with the exchange UI, a profit/loss calculator, it's capacity to handle multiple wallets per currency, in-platform portfolio management, and a tax reporting tool.
Developed with the main focus on security, Beaxy consists in "the most advanced, state of the art security features." along with third-party security audit, multi-signature platform, a blockchain sweeping protocol which reduces the exposure of funds to hot wallets, account monitoring and alerts, system health monitoring, distributed denial of service (DDoS) protection, and phishing prevention, the firm states.
While launching this new platform, Artak Hamazaspyan, CEO of Beaxy said, “I couldn’t be happier with the product this incredible team has built. Through prioritizing user experience, security, regulatory guidance, and seamless functionality, I am confident we’ve built a best-in-class trading platform.”
The exchange has built its trade matching engine on OneTick, the high-performance analytics and data management technology by OneMarketData. The technology is already being used by stock exchanges, banks, and asset managers.
As per Beaxy, an exclusive collaboration with the OneMarketData provide trading capabilities in around nine order types, along with the transaction speeds of 225,000 per second per trading pair.
Artak Hamazaspyan "Our implementation of OneMarketData’s OneTick technology has yielded impressive results, out-performing most engines in traditional financial markets and the cryptocurrency markets. We’re looking forward to providing every trader out there with a one-stop shop solution that will significantly erase the barriers to alternative asset adoption."
Apart from using the technology offered by OneMarketData, Beaxy utilizes know-your-customer (KYC) and anti-money-laundering (AML) services offered by the Software-as-a-service (SaaS) firm Mati. US-based popular asset custodian Kingdom Trust provides Beaxy improved security and custodianship of asset services.
Founded in 2017 by two software engineers, Beaxy Digital Ltd is developing a digital exchange focused on offering users with “the ultimate trading experience in terms of trading customization and features, asset security, transaction speed, and customer support.”
The trading platform has gained the attention of the investors and collected $3 million with an initial coin offering in 2018. After this, it has grabbed $8 million in funding, which the firm will use to provide more services in the US, enter the European market, and incorporate fiat deposit and withdrawal capabilities.
In the beginning of this year, Beaxy has released the list of 25 cryptocurrencies which the firm going to provide at the launch.