ZBX: A Regulated Exchange for Secure Crypto Trading
ZBX is a digital asset exchange platform developed specially for cryptocurrency traders in Europe. This platform is based and registered in Malta, an island in Europe known to be a friendly hub for blockchain projects.
Whilst still relatively young after when it was first set up in March 2018, ZBX has the backing of a team experienced in the crypto industry—most notably in the development of crypto exchange giant ZB.com.
Currently, the ZBX exchange is still in its beta version. But the team is hoping that ZBX would enter the prestigious list of top 10 crypto trading platforms by 2020.
Crypto Trading Problems Needing Solutions
ZBX was developed to provide answers to problems crypto traders are experiencing on most crypto exchanges, noted one report. Some of these pressing concerns are:
1| Unregulated Services
Services on unregulated crypto exchanges could be below par as these platforms are not under any obligation to follow rules set by a government regulator. The regulations—while strict—are set to balance the interests and security of both the trader and the trading platform. The absence of such on a platform puts crypto traders in a risky position, in which they have no recourse should the exchange commit otherwise illegal moves.
2| Illiquid Trading Books
A number of exchanges are considered illiquid, in which there is a huge disparity between the acceptable buying and selling prices. Trades on such exchanges take a long time to complete. Besides that, prices of digital assets on these exchanges vary wildly, in which either the buyer or the seller is at the losing side of the trade.
3| Expensive Trading Fees
The advent of crypto coins has made the movement of funds from and to any point in the world cheaper and faster compared with fiat-to-fiat transfers. However, a number of exchanges still charge trading fees that—in crypto market standards—are too expensive.
3 ZBX Services to Help Crypto Traders
1| Competitive Prices
Fair market prices emerge when digital assets are considered liquid in an exchange, which ZBX promises to be. According to ZBX CEO David Pulis, once regulated the exchange will be within the risk appetite of institutional money, not the least when a license necessary for STOs is acquired.
2| Regulated Exchange Service
ZBX is a registered crypto exchange in Malta, which ensures crypto traders that this platform is following set rules and is supervised by a responsible government body, in this case, the Malta Digital Innovation Authority.
3| OTC Desk
Over the counter transactions in the crypto world is a contentious issue. ZBX is aiming to become be the first fully regulated exchange to solve the pain points that are faced by buyers and sellers of OTC crypto. The liquidity on the OTC-side is expected to be the deepest by a wide margin with a large number of institutions and funds waiting to use the service.
As of the moment, the beta version of ZBX shows only nine trading pairs, which include Bitcoin (BTC), Ether (ETH), Ripple (XRP), and the stablecoin Tether (USDT), among others.
Based on the exchange’s roadmap, ZBX is expected to become a fully regulated crypto exchange by October 2019. In addition, ZBX plans to acquire a license to operate a security token offering (STO) exchange from the Malta Financial Services Authority by 2019.
Being a new entity in a very competitive crypto exchange scene, ZBX hopes that its services could bridge the gap between the crypto and traditional financial industries, as well as bring, quoting company CEO Pulis, “a much-needed breath of fresh air for the industry.”