Former Huobi Executive To Launch BHEX Crypto Exchange

Investing, News | November 29, 2018 By:

BHEX Exchange has raised $15 million in its equity round to introduce a next-generation decentralized custody and clearing platform for crypto assets.

The new round of funding comes from top crypto exchanges platforms, institutional venture capitals and accredited investors, such as Huobi Global, OKCoin, Node Capital, Yintai Investment, Genesis Capital, City Holdings, Plum Ventures, Tang Yue, Yuan Dawei, Sun Zeyu and more.

BHEX Exchange, which is scheduled to launch at the end of this week, will provide crypto trading services and custodial infrastructure. BHEX would be powered by a decentralized asset custody and clearing technology developed by Blue Helix, BHEX’s parent company. Blue Helix’s underlying technology is designed to fully solve the security and credibility issues of centralized crypto trading platforms, allowing centralized exchanges to reap the benefits of decentralized exchanges while simultaneously solving the key holder conundrum and putting the power into the hands of the users.

According to its announcement, BHEX core founding members come from major technology and financial companies including Google, Alibaba, Tencent, Baidu, Barclays Capital, and Société Générale with talents in finance, blockchain and technology industry. The company is led by James Ju, former VP of Technology at X Financial and former CTO of crypto exchange Huobi. Ju has an extensive experience in blockchain development, trading system design and product invention.

Ju said that Blue Helix has finished its decentralized cryptographic custody proposal and validated its engineering codes. It has also obtained the corresponding technology patent.

“Blue Helix technology will be an open source project after it has been completely developed,” Ju said. “With Bluehelix technology, BHEX is able to construct an independent asset custody and clearing platform that is completely managed by the community. SaaS open platform product, BHOP, is also developed to utilize its own core trading technology.”