BANKEX, the leading global Fintech company, has launched its own Token Exchange. This new platform allows not only to trade the main pairs of utility tokens, but also to trade complex security tokens associated with real-world assets. BANKEX Token Exchange will serve as a secondary market for security tokens and will support the ERC-1400 and ST-20 token standards, as well as ERC-888 security tokens from BANKEX, which include KYC verification methods. The trading platform stores crypto in BANKEX Custody Service, an extremely reliable storage facility for cold storing.
Crypto enthusiasts and owners of security tokens around the world have something to smile about because BANKEX has launched its secure all-in-one exchange platform.
BANKEX, backed up by its experience in issuing security tokens, as well as familiarity with a diverse set of tokenization frameworks, launched the first complete STO structure that will offer services covering the entire life cycle of a security token. These services will include digitization through BANKEX Digital Deal, solutions to meet KYC and AML requirements for token production, secondary market trading and burning.
Over the next year, BANKEX will use the license provided by the provider of virtual financial assets in the Malta Financial Services Authority. This license is granted only to exchanges that have Know Your Customer (KYC) and Money Laundering (AML) procedures.
But BANKEX, licensed to list security tokens in full compliance with Maltese law, is only the first step. In conjunction with this initiative, BANKEX is also working on obtaining licenses in Switzerland, Southeast Asia, the United States and the Cayman Islands.
This announcement came after other similar initiatives that have been created in the past few months by popular crypto-exchanges, including Binance. However, none of the major market players can offer a turnkey STO platform that supports the security token throughout its life cycle, which includes the full range of services described above. In addition, to ensure the liquidity of the token and reduce the risk of BANKEX offers the opportunity to securitize tokens by combining them. It works just like Brent futures.
This new platform allows not only to trade base pairs BTC and ETH, but most of all it is intended for further trade in complex protective tokens associated with a real asset, represented by standards such as ERC-1400, ST-20 and ERC-888. These tokens, which will be supported by the new exchange, will be available only to those who have passed and have been approved by the KYC and AML procedures. The creator of the token, i.e., the business or the developer responsible for offering the token, can create and control rules for both KYC procedures and AML.
Over the next few weeks, BANKEX Token Exchange will conduct a short evaluation period to ensure optimal performance for all customers. Korean and Chinese interfaces will soon appear on the platform.
Trading is safe
The trading platform stores assets in the BANKEX Custody Service. Storing the assets in the Custody Service cold storage ensures that the assets are not stolen and will help prevent any business difficulties that may arise from unsafe storage.
The database of the BANKEX Custody service cannot be accessed or read by a person — everything is encrypted and processed in a machine environment. The server is removed due to human intervention, and only automatic BANKEX modules can access it. In addition, Custody needs to hack a whole series of nested keys stored in the Hardware Security Module (HSM) within the Amazon cloud.
New Exchange for Algotraders
BANKEX Token Exchange will allow high-frequency trading (HFT), up to 100 orders occurring in seconds, which allows you to use the opportunities of trading large algos spot trading. It will also enable the implementation of application programming interfaces (APIs), which allow users to choose their strategy, program their requirements and implement brokers’ plans.
Currently, negotiations are underway with liquidity providers to make margin trading with the BANKEX token exchange.
BANKEX is a global top-20 fintech company that develops the Proof-of-Asset Protocol to integrate product modules and Bank-as-a-Service (BaaS) flowcharts to enable digitization, tokenization, and asset sharing for the complete developing a symbolized global ecosystem. The leading technologies of BANKEX include the Proof of Asset Protocols for Tokenization, the Plasma Protocol, the BANKEX Scan, Smart Justice, Trust Service, Pay, Bounty Service, and the the Solidity Floating Point Library.