A regulated exchange, iExchange, starts in the High-Tech Park of the Republic of Belarus.
The iExchange team relies on several features of the project and its environment at once:
- High security. Kyte Consultants Ltd conducted external penetration testing, as well as load testing of the iExchange platform, confirming the reliability and security of the software used.
The project team considers the regulation as control of the exchange by the state, rather than control of cryptocurrency.
Most clients of crypto projects are protected only by the user agreement of the site, which they entrusted their money to, and the reputation of the team. But the ICO, whose boom came in 2017, showed how little the trust of users can mean for a company if there is no third party monitoring compliance.
The high risk of fraud led to the fact that the United States, Japan and several other countries have paid close attention to companies that can assign funds to users.
iExchange seeks to occupy its niche in the HTP in order to carry out all exchange operations through itself. The resident companies of the High-Tech Park (there are already more than 500 of them) are required to work with a regulated resident exchange if their work involves cryptocurrencies and their withdrawal into fiat money.
A regulated exchange can work with Fiat through a bank, directly.
If the company can confirm the origin and movement of funds, this can be an important factor for large miners and investment funds.
iExchange plans to launch its own coin – iExcoin. By analogy with Binance, the coin will allow paying commission and services of the exchange.
The exchange announced the upcoming launch of the following services and services:
- The first in runet regulated custodial service and service of cryptoactive assets management.
- Own cryptocurrency index.
- Margin trading.
- The ability to copy transactions of successful traders.
The project is already running and is available to users in the version of iExchange 1.0. The developers promise to roll out a new version with enhanced functionality by May 2020.
There are downsides
Since this is a new site, not all functionality is available at the start.
On the one hand, we see another cryptocurrency exchange. On the other hand, high liquidity, transparency before auditors can become a new standard for the cryptoindustry.