Ripple-based DCEX crypto exchange is ready to open its doors in San Francisco. The marketplace believes that using XRP as a base currency will enable “high-speed transfers” on the platform.
1 August, AtoZ Markets – DCEX, a new Ripple-based decentralized cryptocurrency marketplace has moved to open registration for retail and institutional accounts.
Ripple-based DCEX Crypto Exchange Launches in the US
The official press release from the company states that the DCEX will also offer all of the assets included in the Bloomberg Galaxy Crypto Index (BGCI). This index tracks the top ten “most liquid” cryptocurrency assets.
The San Francisco-located platform operates on technology that has been developed by the Blockchain firm AlphaPoint. It will initially offer 15 crypto-crypto trading pairs – all of them are against Ripple as a base currency. These currencies include Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), Bitcoin Cash (BCH), EOS (EOS), IOTA (MIOTA), and ZCash (ZEC) among others. It is understood that more altcoins will be added in the future.
As per the press release, DCEX believes that using XRP as a base currency will enable “high-speed transfers” that will help investors to take advantage of “price inefficiencies” in their arbitrage among currency pairs in various crypto exchanges.
The marketplace also claims that its network will facilitate “up to one million transactions per second.” It also states that it will allow participants to connect to APIs to implement “high frequency” crypto trading strategies, as well as to margin trade.
US Crypto Regulations
Following on this, the DCEX is reportedly registered with FinCEN. The cryptocurrency exchange is performing “initial steps” in the direction of becoming a fully compliant and registered operator under the US Securities and Exchange Commission (SEC) and other regulatory agencies.
This April, one of the key figures on the US financial regulatory field, US SEC Chairman Jay Clayton has spoken in regards to the matter of the US cryptocurrency regulations. While the regulatory environment in the US is changing rapidly, it might be difficult to keep up with the general direction of the US regulatory bodies.
Mr. Clayton has acknowledged that not all Blockchains are the same. Therefore, as per him, they should not all be regulated in the same way.
He has referred to a kind of continuum where all Blockchain-based tokens exist. Mr. Clayton has pointed two sides: one with speculative assets like Bitcoin, and other with more stable assets, such as tokenized securities.
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