XRP-Based Crypto Exchange Launched By DCEXbr>
San Francisco-based crypto marketplace DCEX has partnered with crypto services firm AlphaPoint to launch a digital currency exchange for retail and institutional investors.
The DCEX exchange will be based on AlphaPoint’s blockchain technology, which enables exchanges to have a processing capacity of nearly one million transactions per second. DCEX is currently registered with FINCEN and has taken initial steps to become registered, fully regulated, and compliant with the US Securities and Exchange Commission (SEC) and other regulatory agencies.
The crypto-to-crypto exchange will use XRP as its exclusive base currency, and will allow clients to trade a total of 15 coin pairs at launch. These include bitcoin (BTC), Litecoin (LTC), ethereum (ETH), Bitcoin Cash (BCH), Bitcoin Gold (BTG), Ethereum Classic (ETC), OmiseGo (OMG), EOS (EOS), DASH (DASH), Tron (TRX), Monero (XMR), VeChain (VEN), IOTA (IOTA), ZCash (ZEC), and stable-coin TrueUSD (TUSD). The exchange is also planning to add Neo (NEO), Cardano (ADA), and more pairs in the coming months.
DCEX said that they chose XRP as its base currency in order to facilitate “very rapid transaction volume” between traders. The company claims that transactions typically settle in under four seconds, allowing for faster multi-exchange strategies and providing a speed advantage over other money movement options.
“Interest in blockchain is slowly becoming global, escaping the narrow indoor spaces of technically inclined groups of enthusiasts,” the company said. “At DCEX we firmly believe that a true industry leader must be unrivalled in every element of the service it offers. We offer the excitement of trading, and provide you with the means to navigate the uncharted waters of cryptocurrency trading.”