Fintech

TraderX Launching Innovative White Label Solutions for Cryptocurrency Exchanges

Published

2 years ago

January 30, 2023

In 2020, CoinBase reportedly made $1.3 billion in revenue and had a net income of $322 million while 2021 was even higher at $1.8 billion in revenue and an annual net income of $3624 million. As appetizing as those profits might sound, creating a cryptocurrency exchange can be a costly and complex endeavor, and development costs are one of the main financial barriers to entry that can make it difficult for ordinary entrepreneurs to start their own exchange.

The costs of operating a cryptocurrency exchange can be mainly divided into 3 categories:

Development Costs of the Complete Trading System

Cryptocurrency exchanges require specialized software to handle the buying and selling of digital assets. This software can be complex and costly to develop, especially for smaller exchanges and doesn’t include the costs for security systems.

Long-term Fixed Expenses such as Wallet, Liquidity, and Server Operation Maintenance

Liquidity costs refer to the ability of an exchange to have enough funds so buyers and sellers can be quickly and easily matched. Other related costs include server and wallet maintenance, which both are to ensure trades can safely occur without issues.

Human Resources Cost for R&D, Operational, and Technical Support

Hiring staff and keeping highly professional employees trained in both web3 and experienced in technical exchange support becomes more expensive due to the high demands of such individuals.

All these costs together can be extremely high and possibly price out an ordinary entrepreneur from creating their own exchange, making it almost impossible to enter the market and own a portion of the industry. These 3 costs can be greatly reduced by using label services. Enter TraderX.

TraderX, Your Turnkey Solution to Building A Cryptocurrency Exchange

Headquartered in Singapore, TraderX, a global blockchain and fintech company, offers a solution to the financial barriers to entry for creating a cryptocurrency exchange for ordinary entrepreneurs. The company provides turnkey solutions, which means that it provides entrepreneurs with all the necessary software and infrastructure for running a successful cryptocurrency exchange. This eliminates the need for entrepreneurs to develop their own technology and security systems, reducing development costs.

Additionally, TraderX provides liquidity solutions, which help ensure that the exchange has adequate trading volume and can attract customers. This eliminates the need for entrepreneurs to invest in expensive liquidity provision strategies. The platform also includes marketing and advertising tools that help entrepreneurs promote their exchange and attract customers, reducing the need for large marketing and advertising expenses.

The all-inclusive turnkey solution contains their comprehensive SAAS service and shared liquidity while the customizable packages are ideal for those who already have their own market making and liquidity for their trading pairs. The support services don’t stop there as marketing packages for new exchanges are also readily available, making TraderX undeniably useful for entities who aren’t interested in building a team from scratch for the various operations required of a centralized cryptocurrency exchange.

Having prominent and existing exchanges invested in TraderX and years of business experience within the field, the company offers its services at more reasonable rates compared to fellow competitors, making them one of the few options to thoroughly consider when looking for technical back-end solutions for new centralized exchanges. Enterprises can focus on the operations, sales, and marketing part of their exchange business without needing to onboard web3 technical staff for back-end development and network maintenance.

Deployment & Transaction Speeds Beyond the Industry Average

Applying for a banking or exchange license in applicable countries might take years but setting your cryptocurrency exchange shouldn’t. Based on cutting-edge technology and an innovative backend management system, TraderX seeks to revolutionize how exchanges should be and the minimal amount of time required to deploy an MVP and even shorter for the fully functioning version. With a minimal outlay of 1 month, all back-end work for perpetual futures, delivery futures, and other prediction markets can be up and running with assistance for both software and liquidity.

Speed isn’t just involving your ability to join the market. Competing services mostly provide an average API capacity of 100 transactions per second. This can drastically limit the scalability of an exchange’s business down the road. TraderX provides 10,000 TPS to avoid any bottlenecks at the API front and ensures clients can focus on running their exchange business regardless of how big they scale their business.

Goodbye to Absurd Fees

No longer are the days when integrating a new chain or trading pair on a weekly basis would be too costly to imagine. Clients who also wish to deploy their tokens on a variety of exchanges would also enjoy the added benefit and guidance from TraderX without the absurd time required for contract deployment or ridiculous fees. TraderX’s SAAS structure includes all back-end functionalities required for a functional working product. This also includes support for server hosting, supporting new chains for wallet management, and liquidity management for trading depth without clients needing to pay for each add-on.

24hr Technical Support, on the House

For anyone who might already have experienced using exchanges, you’d know if something could go wrong, they sooner or later will. 24/7 customer support is paramount for any black swan events that occur in the web3 industry. TraderX believes such emergency support for all who run exchange businesses should be the norm.

TraderX dedicates a team of professionals to provide prompt resolutions during duress. This is achieved by relying on the company’s in-house team of technical staff and customer support staff working as one during potential times of emergencies. Supported languages for emergency customer support are as follows: English, Japanese, Korean, Russian, Turkish, Chinese, Vietnamese, Thai, Indonesian, and Spanish.

TraderX & Security

Security is paramount for any centralized exchange to thrive. Almost half of the top hacks involving the most liquidity lost happened to exchanges for their poor security protocols and policies. All of these issues can be properly addressed with data encryption, hardware wallet management, and frequent security audits to test the robustness of the exchange’s security practices. TraderX ensures such practices are regularly taken, helping clients to avoid making similar mistakes that failed exchanges have in the past.

TraderX provides a comprehensive, cost-effective solution that eliminates the need for entrepreneurs to invest in expensive technology, security, liquidity, and marketing and advertising. This makes it possible for ordinary entrepreneurs to enter the cryptocurrency exchange market and start their own exchange, putting the future of finance within reach of your fingertips.

For more information, visit their website or email TraderX directly to speak with one of their representatives. Emails can be in any language and the right representative will respond promptly. The next bull cycle and mass crypto adoption by enterprises and governments. Are you ready to own a piece of the newly evolving exchange industry?

Fintech

SPAYZ.io prepares for iFX EXPO Dubai 2025

Published

3 hours ago

December 19, 2024

Adrienn Sarkany

spayz.io-prepares-for-ifx-expo-dubai-2025

Leading global payments platform SPAYZ.io has confirmed it will be attending iFX EXPO Dubai 2025 on 14 to 16 January. Exhibiting at Stand 64 at Trade Centre Dubai, SPAYZ.io’s team of professionals will be on hand providing live demonstrations of its renowned payment services for payment providers. Attendees will also receive exclusive insight into SPAYZ.io’s plans for 2025 alongside early early access to its upcoming plans for the new year.

SPAYZ.io delivers a host of payment solutions that leverage the latest technological innovations and open access to the fastest growing emerging markets across Africa, Europe and Asia. Over the past year, there has been huge demand for its Open Banking and local payment method services, alongside bank transfers, mass payouts, online banking and e-wallets.

Yana Thakurta, Head of Business Development at SPAYZ.io commented: “We look forward to once again participating at iFX Dubai to expand our network of partners and clients. It’s a fantastic way to kick off the year, connecting with thousands of industry leaders from FOREX platforms to trading companies, and everything in between.

“Our key goal for iFX Dubai EXPO 2025 is to expand our portfolio of solutions and geographies. We’re using this as an opportunity to partner with like-minded entities who share our ambition to provide payment solutions that are truly global.”

Come meet SPAYZ.io’s team at the Trade Centre Dubai at Stand 64. You can also book a meeting slot with a member of a team.

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Fintech

Airtm Enhances Its Board of Directors with Two Strategic Appointments

Published

3 hours ago

December 19, 2024

Adrienn Sarkany

airtm-enhances-its-board-of-directors-with-two-strategic-appointments

Airtm, the most connected digital dollar account in the world, is proud to announce the addition of two distinguished industry leaders to its Board of Directors: Rafael de la Vega, Global SVP of Partnerships at Auctane, and Shivani Siroya, CEO & Founder of Tala. These appointments reflect Airtm’s commitment to innovation and financial inclusion as the company enters its next phase of growth.

“We are thrilled to welcome Rafael and Shivani to Airtm’s Board of Directors,” said Ruben Galindo Steckel, Co-founder and CEO of Airtm. “Their unique perspectives and proven track records will be invaluable as we continue scaling our platform to empower individuals and businesses in emerging markets. Together, we’ll push the boundaries of financial inclusion and innovation to create a more connected and equitable global economy. Rafael and Shivani bring a wealth of experience and strategic insight that will strengthen Airtm’s mission to connect emerging economies with the global market.”

Rafael de la Vega, a seasoned leader in fintech global partnerships and technology innovation, is currently the Global SVP of Partnerships at Auctane. With a proven track record of delivering scalable, impactful solutions at the intersection of fintech, innovation, and commerce, Rafael’s expertise will be pivotal as Airtm continues to grow. “Airtm has built a platform that breaks down barriers and opens up opportunities for people in emerging economies to connect to global markets. I am excited to contribute to its growth and help further its mission of fostering financial inclusion on a global scale,” said Rafael.

Shivani Siroya, CEO and Founder of Tala, is a pioneer in financial technology, renowned for empowering underserved communities through access to credit and essential financial tools. Her leadership in leveraging data-driven innovation aligns seamlessly with Airtm’s vision of creating more equitable financial opportunities. “Empowering underserved communities has always been at the core of my work, and Airtm’s mission resonates deeply with me. I’m thrilled to join the Board and work alongside such a dynamic team to expand access to financial tools that truly make a difference in people’s lives,” said Shivani.

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Fintech

Fintech Pulse: Your Daily Industry Brief (Revolut, Bestow, Advyzon, Tyme Group, Nubank)

Published

2 days ago

December 17, 2024

Peter Tolan

fintech-pulse:-your-daily-industry-brief-(revolut,-bestow,-advyzon,-tyme-group,-nubank)

The Ever-Evolving Landscape of Fintech: Top Stories Today

The fintech world continues to thrive with new developments shaping its future. Today’s highlights cover Revolut’s enhanced crypto fraud protections, Bestow’s recognition as a leading fintech company, Advyzon’s CEO receiving a prestigious award, Tyme Group’s global expansion supported by Nubank, and the rise of Israeli fintech startups. Let’s dive into the details and explore the broader implications.

Revolut Steps Up Crypto Fraud Protection

In a significant move to fortify customer trust, Revolut has announced enhancements to its crypto fraud protection systems. Leveraging advanced security risk scores, the company aims to shield users from the growing menace of crypto-related scams. The platform’s new measures will involve deeper scrutiny of transactions, sophisticated algorithms to flag potential fraud, and proactive alerts for unusual activities.

Revolut’s focus on fraud protection reflects the escalating challenges faced by fintech firms operating in the crypto space. As digital currencies gain traction, fraudsters continue to exploit vulnerabilities, necessitating robust security mechanisms. Revolut’s initiative could set a precedent for the industry, emphasizing that user safety is as critical as innovation. However, the success of these measures will depend on striking the right balance between security and user experience.

Source: Coindesk

Bestow Earns a Spot Among Top 100 Financial Technology Companies of 2024

Bestow, a digital life insurance innovator, has been named one of the Top 100 Financial Technology Companies of 2024. This recognition highlights Bestow’s transformative approach to life insurance, combining cutting-edge technology with customer-centric solutions. By simplifying the traditionally cumbersome insurance process, Bestow has made life insurance more accessible and affordable.

The accolade underscores the growing importance of insurtech in the broader fintech ecosystem. Bestow’s achievements signal a shift in consumer expectations—convenience, transparency, and technology-driven solutions are becoming non-negotiable. As insurtech continues to disrupt traditional insurance models, the emphasis will likely shift from mere digital transformation to delivering personalized and predictive services.

Source: PR Newswire

Advyzon CEO Hailin Li Wins ThinkAdvisor 2024 Luminaries Award

Hailin Li, CEO of Advyzon, has been honored with the ThinkAdvisor 2024 Luminaries Award for Fintech Executive of the Year. This award recognizes his exceptional leadership and Advyzon’s commitment to empowering financial advisors with innovative tools. Under Li’s stewardship, Advyzon has excelled in providing comprehensive technology solutions, enabling advisors to deliver superior client experiences.

Li’s recognition highlights the pivotal role of leadership in driving fintech innovation. Advyzon’s success is a testament to how visionary leadership can redefine financial advisory services. As advisors increasingly rely on technology to navigate complex markets, platforms like Advyzon are becoming indispensable. The award also serves as a reminder that the human element—inspired leadership—remains crucial even in a tech-driven industry.

Source: Business Wire

Nubank Backs Tyme Group’s International Expansion

In a strategic move, Nubank has announced an investment in Tyme Group, a digital bank with operations in South Africa and the Philippines. This partnership aims to accelerate Tyme’s growth in emerging markets, leveraging Nubank’s expertise in scaling digital banking operations. Tyme’s unique business model focuses on financial inclusion, catering to underserved populations in developing economies.

Nubank’s investment signifies a growing trend among fintech leaders to expand their footprint in emerging markets. The collaboration between Nubank and Tyme underscores the potential of digital banking to bridge financial inclusion gaps. However, challenges such as regulatory complexities and technological infrastructure limitations in these regions must be addressed to ensure sustainable growth.

Source: Business Wire

Israeli Fintech Startups Gaining Global Momentum

Israel’s fintech ecosystem is making waves internationally, with startups leveraging the country’s robust tech culture and innovation-driven mindset. From payment solutions to cybersecurity for financial services, Israeli fintech firms are attracting significant investments and partnerships globally. This trend reflects the country’s position as a hub for technological advancement and entrepreneurial spirit.

The rise of Israeli fintech startups is a testament to the country’s ability to harness innovation for global impact. However, scaling these ventures beyond local markets remains a challenge. Strategic partnerships and a focus on addressing global financial challenges will be crucial for these startups to cement their position on the world stage.

Source: Calcalist Tech

Broader Implications for the Fintech Industry

Enhanced Security in Crypto: Revolut’s initiative highlights the need for continuous advancements in fraud prevention. The increasing complexity of scams calls for adaptive security measures that can evolve with emerging threats.
Recognition Drives Innovation: Bestow’s accolade and Hailin Li’s award demonstrate the power of recognition in fostering innovation. Industry acknowledgment not only boosts morale but also sets benchmarks for others to emulate.
Global Collaborations: Nubank’s partnership with Tyme Group underscores the importance of cross-border collaborations in fintech. As markets globalize, such alliances will play a pivotal role in shaping the future of financial services.
Emerging Market Opportunities: Investments in developing economies highlight the untapped potential of these regions. Fintech companies must focus on understanding local needs and challenges to create impactful solutions.
Tech Hubs as Catalysts: The success of Israeli fintech startups emphasizes the role of regional tech hubs in driving industry growth. Policymakers and stakeholders must nurture these ecosystems to sustain innovation.

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