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AlphaPoint cryptocurrency services company is fueling a new decentralized exchange, the company announced on Monday
DCEX, a market based in San Francisco, has formally opened registration for its platform, even if customers do not they will be able to start trading for a few more weeks. The exchange uses XRP in particular as its "base currency", which means that many of its trading pairs are denominated in the third criptual by capitalization, AlphaPoint CEO Salil Donde said in a blog post.
In his announcement, DCEX says it will be able to offer a total of 15 trading pairs, including XRP, bitcoin, litecoin, ethereum, ethereum classic, vechain, zcash and TrueUSD with stable currencies. The exchange also says that it will add neo and ADA, among other trading pairs within a few months. DCEX also offers access to all 10 coins listed in the Bloomberg Galaxy Crypto Index, which include monero, EOS and dash.
The exchange is based on the AlphaPoint distributed ledger, according to the announcement.
DCEX uses XRP as a basis for quickly moving funds with low transaction costs, Donde wrote. Specifically, the XRP register is designed for high execution speed and resolution within a few seconds, which can be an advantage for traders.
The news comes just a month and a half after AlphaPoint announced it had raised $ 15 million in its first round of venture capital financing. Funds were raised primarily through Galaxy Digital, the cryptocurrency merchant bank launched by billionaire investor Mike Novogratz.
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