Published
4 years ago on
September 12, 2019
Table of Contents
Bitfineon — A Next-gen Exchange Platform with a Sharepool Program for $XLQ
German-based crypto financial services company, Bitfineon GmbH, has secured seed funding of €1 million to launch its next-generation crypto and fiat exchange, Bitfineon, through a private equity sale with the US-based fund B.I.G. Fintech, LP. Bitfineon will provide crypto-to-crypto trading, fiat services, and has plans to release its own futures platform. Licensed and regulated by the German financial regulatory authority BaFin, Bitfineon will provide its products and services to EU-based countries at launch with plans to expand to Asia and the US in coming quarters.
Bitfineon CEO Jared Grey says,
“We couldn’t be happier to partner with B.I.G. Fintech, LP. They are strong advocates of the digital currency space and see the potential of the tech we’ve built for Bitfineon.”
Jared continues,
“…by launching Bitfineon as a regulated and licensed entity, our goal is to provide the crypto-space with a secure and transparent exchange that focuses on user-experience while helping to increase adoption for crypto through our intuitive and easy-to-use interface.”
Providing more detail on the tech behind their platform, Jared further states,
“Bitfineon is a fully custom platform, which has been in development for 13 months, and introduces a groundbreaking matching engine technology we call Neutrino.”
Neutrino utilizes the power of concurrent GPU processing power to match trades, exponentially increasing scalability over the industry-standard CPU-based solutions employed by its competitors. Neutrino will enable Bitfineon to scale quickly and efficiently and will help deliver a seamless trading experience for users of its platform.
To reward users of its platform, Bitfineon will make use of the fairly distributed cryptocurrency ALQO (ticker: XLQ) for several rewards programs, most notably its sharepool program. The sharepool provides participants who lock their XLQ on the exchange a share in 50% of the trading fees collected from eligible pairs. Participants will be able to lock their XLQ on Bitfineon every 24 hrs. to participate in the sharepool. ALQO can currently be purchased on the decentralized exchange, https://crypto-bridge.org.
Bitfineon’s launch is scheduled before the end of 2019. More info can be found at https://bitfineon.com.
About Bitfineon:
Bitfineon aims to provide a single-stop crypto investment hub for market participants of all types. With our unique and aesthetically pleasing UI, broad range of financial products and services, and unique features, such as Pulse and Arena, we will introduce a unique and complete solution to the retail crypto market. Our goal is to increase simplicity and ease-of-use of crypto for the masses while providing institutional investors the necessary tools for onboarding large capital amounts. All market participants who are users of the Bitfineon trading platform will have access to complex trading tools.
Media inquiries regarding Bitfineon, contact: [email protected]
Read more about B.I.G. Fintech, LP: https://bigfintech.us.
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