As the crypto market grows and grows, it not only shows the growing number of crypto projects, coins and tokens, but also the number of exchanges. Many of them are more or less regulated, many require Know-Your-Customer (KYC) procedures, others are not. Time and again there are problems in the United States, where many tokens and coins are classified as securities and therefore banned trading on the platform by exchanges such as Binance US Traders.
However, in order not to lose customers from the United States, Binance has announced a partnership to launch the Binance US Stock Exchange. Although US traders are allowed to trade even further at Bittrex, a larger number of old coins have been canceled for them. And although this situation prevails at the moment, which for many is not quite as satisfying, a newcomer comes out, who seems to be planning a lot. It is the stock exchange Beaxy.
Beaxy has set itself the goal of creating a platform with an intuitive interface whose functions and design have been strongly influenced by the opinions and suggestions of the community. The stock exchange waives the use of tethers (USDT), instead, the USD Coin (USDC) use.The company wants to offer a barrier-free platform that acts as an all-in-one solution. Users are provided with all the tools and services to ensure that they do not miss out on anything.
OneMarketData, a software solution provider for the financial industry, whose software has been integrated into Beaxy’s matching engine, is also deployed. OneMarketData is also welcome with US regulators, which gives Beaxy a small advantage over all others. By using the OneMarketData OneTick platform, Beaxy is able to offer users nine order types. Order types include Stop Loss, Stop Limit, Take Profit, Take Profit Limit. More will be available soon. Thanks to the clever software solution, up to 225,000 transactions per second per trading pair should also be possible. According to the company, this value exceeds all other stock exchanges currently on the market.
Through a successful Initial Coin Offering, the company raised some $ 8 million to expand operations in the United States, including entering the European market.In order to make the platform interesting for investors, the stock exchange offers a special loyalty program. The company rewards users for keeping the token BXY, which also makes trading fees cheaper. The token itself can be directly clocked on Beaxy and thus increased. Subsequently, a PLS token is obtained for each user who holds BXY tokens to receive portions of all transactions made on Beaxy.