DCEX, a San Franciscan cryptocurrency marketplace designed for retail and institutional investors announced that it is all set to launch a new P2P digital money exchange. The exchange will use XRP as the base currency against which users can trade 15 different cryptocurrencies. The network is able to support one million transactions per second.
Why XRP?
The main reasons to choose XRP as base currency are its nativity in the blockchain ecosystem. It uses a real-time settlement system to exchange and transfer money. Besides, margin trading, faster execution with lower latency, and cheaper transaction fees.
The platform allows trade with BCH, NEO, DASH, IOTA, TRX, ETH, BTG, ETC, VEN, ZEC, and more.
Another striking feature is that the exchange has given access to all the coins listed by the Bloomberg Galaxy Crypto Index (BGCI). The exchange has sought support from AlphaPoint, a crypto exchange software provider, to maintain a scalable and proprietary distributed ledger platform which makes secure and faster connection between various digital assets.
A Wise Move
XRP is the third most valuable crypto coin and commonly traded in many exchanges. Most importantly, the recent trend is that many exchanges trying to deviate from Ethereum and Bitcoin as sole base currencies.
This choice may help the digital money exchanges to maintain market integrity. Moreover, it strengthens controls against possible asset thefts, hacks, and technical faults. Besides, big financial institutions tested the XRP protocol. Indeed, this move seems like a mature choice.
The company in its statement said, “as a U.S. based marketplace built for speed, the DCEX platform allows for a very rapid transaction volume with a network designed to facilitate up to one million transactions per second. Additionally, XRP blockchain transactions typically settle in under four seconds, allowing for faster multi-exchange strategies and providing a speed advantage over other money movement options.”
DCEX is registered with FINCEN. It takes all possible measures to ensure that compliance is intact. Besides, it aims fully registered and regulated compliant operations as per the applicable rules.
Trading To Start Soon
DCEX now looks set to open trading in the coming weeks and customers can start registration anytime on their site.
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