06.11.2019

Beaxy Taps OneMarketData for Digital Trading Venue

Beaxy Digital LTD, a full-service cryptocurrency trading platform, officially launches today, following a thorough development period of 24 months. With more than 60,000 pre-registered users, Beaxy is currently live to customers in 43 U.S. states and 185 countries. Unlike any other exchange in the cryptocurrency sector, Beaxy boasts nine order types, powered by OneMarketData, whose clients include top tier global banks, large asset managers, proprietary trading firms, market markets and leading traditional exchanges.

Committed to onboarding traditional traders, retail and institutional investors, as well as acquiring market share from traders on other cryptocurrency exchanges, Beaxy has established best-in-class security measures that are fully compliant with stock market financial regulations, rigorous AML / KYC vetting processes, and world-renowned partners. U.S. based alternative asset custodian KingdomTrust has partnered with Beaxy to provide enhanced security and custodianship of assets while SaaS company Mati is onboarded to provide robust KYC and AML services.

Artak Hamazaspyan, Beaxy CEO, said “I couldn’t be happier with the product this incredible team has built. Through prioritizing user experience, security, regulatory guidance, and seamless functionality, I am confident we’ve built a best-in-class trading platform. Our implementation of OneMarketData’s OneTick technology has yielded impressive results, out-performing most engines in traditional financial markets and the cryptocurrency markets. We’re looking forward to providing every trader out there with a one-stop shop solution that will significantly erase the barriers to alternative asset adoption.”

Beaxy’s exclusive partnership with OneMarketData gives elite trading capabilities to the digital asset space — an industry first. Beaxy boasts transaction speeds of 225,000 per second per trading pair, an order of magnitude faster than any other current digital asset exchange.

Ross Dubin, Global Head of Sales of OneMarketData, said “Beaxy’s ambition to build a top of the line cryptocurrency exchange made them an obvious partner. After the matching engine was built, OneTick Surveillance was deployed. OneTick Surveillance is currently in use by global banks across multiple desks. It is used by the world’s largest options broker, the world’s largest algo operator, and one of the world’s most trusted stock exchanges to meet regulatory requirements across multiple asset classes and global jurisdictions. The result is a cryptocurrency exchange with technology on par with leading traditional exchanges that can meet global regulatory requirements.“

In addition to a record number of order types, the Beaxy platform will launch with advanced features such as TradingView charting within the exchange UI, profit/loss calculator, and the ability to manage multiple wallets per currency. The platform also features an in-platform portfolio management and tax reporting tool.

Beaxy was founded in October 2017, shortly after software engineers Artak Hamazaspyan (CEO) and Mittal Patel (CTO) recognized a need for a holistic, professional, licensed and secure cryptocurrency exchange. Their efforts have helped bridge the gap between cryptocurrency enthusiasts and part-time speculators, to retail and institutional investors. Beaxy has scaled its operations across the last 12 months, onboarding more than 25 full-time employees, including a development team based in Armenia. Fresh off of an eight million dollar fundraise, Beaxy intends to use these funds to expand operations in the U.S, expand into Europe, and integrate fiat deposits and withdrawals from around the globe.

Beaxy is now live and available in 43 U.S. states through Beaxy.com with trading pairs for 16 of the top digital assets. Users can engage directly with the team by joining the Beaxy Discord community at https://discordapp.com/invite/MVG9WFx.

Related articles

  1. SEC Seeks to Modernize Buy-Side Reporting

    Crypto markets may be on the hook for investment advisory responsibilities.

  2. SIPA's narrow definitions could cause headaches for broker-dealers.

  3. Under the deal, the firms plan a six-month tokenization pilot for up to 10 companies.

  4. Clients will have accesss to the firm's Zero Hash settlement service for digital and fiat trade.

  5. One in five asset managers already have exposure to the new asset class.