Cryptocurrency exchanges are both a blessing and a curse. Centralized trading platforms are often considered to be slow and unreliable.
If Hong Kong-based startup AAX is to be believed, that situation will change relatively soon.
AAX has Big Crypto Ambitions
All of this will be made possible when a new trading platform launches. It combined the London Stock Exchange Group’s technology to cater to retail and institutional investors alike.
The primary objective of this platform is to remove trading delays whenever possible. The core matching engine, utilized by bourses around the world, should help significantly in this regard.
It is believed the new platform will have a latency of under 500 milliseconds. Binance, the biggest crypto exchange, suffers from delays of up to 0.5 milliseconds.
AAX Also indicates it aims to list several dozens of cryptocurrency trading pairs. Additionally, they will provide investors with futures contracts.
That latter functionality will only be accessible for major cryptocurrencies. Both Bitcoin and Ethereum futures have been confirmed at this time.
Last but not least, the startup wants to provide an OTC trading platform. This makes it easier to convert fiat currencies into supported cryptocurrencies.
Competition continues to heat up among cryptocurrency exchanges. Existing platforms need to remain relevant, whereas newcomers often struggle to gain traction.
From a technical point of view, AAX seems to pack quite a punch. Convincing existing traders to switch to this new platform will be a crucial challenge.
The focus on institutional investors may not pay off either. So far, any venture catering to institutional traders has seen little to no real success during the initial stages.
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