Bitfinex to Create Ethereum Trading Platform

Announcements, Blockchain, FinTech, Innovation, Investing | August 4, 2017 By:

Hong Kong-based digital currency exchange Bitfinex will be launching a new ethereum-based trading and discussion platform called Ethfinex.

Bitfinex said the new platform is a hybrid community and information hub for ethereum-based projects, designed to facilitate learning, discussion and analysis while providing access to a trading and crowdfunding platform available for ethereum ERC20 tokens.

To accelerate the development of on-blockchain exchange, the Ethfinex platform will pioneer a hybrid decentralized architecture, allowing decentralized exchanges to plug into it and trade with Ethfinex customers, as well as each other.

The company is also planning a new token called the Nectar token (NEC), which will act as a loyalty reward for token market-makers on the Ethfinex exchange. Facilitated by the Nectar token, the long-term vision is to move towards a completely trustless exchange, with gradual decentralization of ownership to its community of users.