Another cryptocurrency trading platform was launched into the ecosystem following a development period of 24 months. Going by the name of Beaxy Digital LTD, the operator has already over 60,000 pre-registered users and is currently live to customers in 43 U.S. states and 185 countries.
OneMarketData, a leading provider of a comprehensive suite for time-series data management, real-time event processing, and analytics, powers Beaxy’s nine order types. The operator aims to onboard traditional traders, retail and institutional investors, as well as acquiring market share from traders on other cryptocurrency exchanges.
According to the announcement, the partnership with OneMarketData is an exclusive one, which makes Beaxy stand out from the crowd with a competitive edge against other cryptocurrency exchanges. Beaxy boasts transaction speeds of 225,000 per second per trading pair, an order of magnitude faster than any other current digital asset exchange.
Ross Dubin, Global Head of Sales of OneMarketData, said:
“Beaxy’s ambition to build a top of the line cryptocurrency exchange made them an obvious partner. After the matching engine was built, OneTick Surveillance was deployed. OneTick Surveillance is currently in use by global banks across multiple desks. It is used by the world’s largest options broker, the world’s largest algo operator, and one of the world’s most trusted stock exchanges to meet regulatory requirements across multiple asset classes and global jurisdictions. The result is a cryptocurrency exchange with technology on par with leading traditional exchanges that can meet global regulatory requirements.“
Its appeal to established market participants includes best-in-class security measures that are fully compliant with stock market financial regulations, rigorous AML / KYC vetting processes, and world-renowned partners. Enhanced security and custodianship of assets is ensured by U.S. based alternative asset custodian KingdomTrust, and KYC and AML services are provided by SaaS company Mati.
Artak Hamazaspyan, Chief Executive Officer at Beaxy Digital, commented:
“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. 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.”
The operator, which was founded in October 2017 and recently raised $8 million to expand operations in the United States, Europe, and integrate fiat deposits and withdrawals from around the globe, will now launch with advanced features such as TradingView charting within the exchange UI, profit/loss calculator, and the ability to manage multiple wallets per currency. The platform also features an in-platform portfolio management and tax reporting tool.