San Francisco-based startup DCEX is set to become the first cryptocurrency exchange to exclusively use Ripple's XRP as the base currency on the platform. The exchange is now open for client registrations with trading expected to begin shortly.
DCEX, a next generation crypto-to-crypto marketplace for retail and institutional investors, is powered by blockchain exchange technology company AlphaPoint.
DCEX is currently registered with the Financial Crimes Enforcement Network (FinCEN). It plans to become a registered, fully regulated and compliant operator under the U.S. Securities and Exchange Commission (SEC) and other regulatory agencies.
DCEX will initially offer 15 trading pairs against XRP - Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), Bitcoin Cash (BCH), Bitcoin Gold (BTG), Ethereum classic (ETC), OmiseGo (OMG), EOS (EOS), DASH (DASH), Tron (TRX), Monero (XMR), VeChain (VEN), IOTA (IOTA), ZCash (ZEC), and stable-coin TrueUSD (TUSD).
The exchange plans to add Neo (NEO), Cardano (ADA), and more pairs in the coming months. It will also offer access to all ten coins listed in the Bloomberg Galaxy Crypto Index (BGCI) in one location.
The use of XRP as a base currency and protocol will enable high-speed transfers helping to take advantage of price inefficiencies. It is expected to achieve up to one million transactions per second. XRP blockchain transactions typically settle in under four seconds.
AlphaPoint enables customers like DCEX to launch and operate markets through its secure, scalable, and customizable distributed ledger technology (DLT) platform.
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