The launch of the first crypto exchange by Nasdaq is scheduled for June 2018. DX Exchange will work on the infrastructure of the well-known American stock exchange and allow its customers to conduct transactions without commission, reports Finance Magnates.
DX Exchange CEO Daniel Skowronski named three advantages of cooperation with Nasdaq: a well-known brand, technology, and regulation. According to him, today Nasdaq technology is used by more than 70 traditional exchanges. At the same time, Nasdaq places the highest demands on stock exchanges and tightly controls compliance with regulatory rules, which prevents the creation of counterfeit trading volumes.
In accordance with the rules of DX Exchange has already received a license in Estonia, as well as a license of the Cyprus Securities and Exchange Commission (CySEC). In addition, DX Exchange is in negotiations with US regulators about obtaining a US license.
Crypto exchange allows customers to buy cryptocurrency, conduct trades, and convert coins into fiat currencies and withdraw from the account.
It is expected that at the initial stage six most liquid coins will be represented on the trading platform, in particular, Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. Later, other 20-25 cryptocurrencies will be added.
Crypto-exchange claims not to take a commission for trading operations. A monthly fee of 10 EUR will apply only to traders.
Earlier, the general director of the Nasdaq exchange, Adena Fridman, said that Nasdaq could become a cryptocurrency platform. “Over time, if we see that people are ready for a more regulated market and fair conditions for investors, Nasdaq will certainly think about becoming a crypto exchange,” she said.