The company announced on Monday, cryptocurrency service firm Alpha point is powering a new decentralized exchange.
A san Francisco-based market, DCEX formally opened a registration for its platform, although customers would not be able to start the business for a few more weeks. Exchange typically uses XRP as “originally currency”, which means that many of its business pairs are listed in the third largest cryptocurrency by market cap.
In its declaration, DCEX says that it will be able to present a total 15 trading pairs, including XRP, Ethereum, Litecoin, vechain, zcash and stable coin. The exchange further says that it will add neo and ADA, between other business pairs within months. DCEX provides access to all ten coin listed in the Boomberg Galaxy Index, which includes Monero, Dash and EOS.
DCEX has used the XRP as the basis in order quickly move funds with lower transactions costs, Donde wrote. Specifically, the XRP ledger is designed for high performance speeds and deal within a few seconds, which can offer a benefit for traders.
Alphapoint announced that the news comes just a month after successfully collecting $15 million in the first round of venture capital financing. Funds was mainly raised through Galaxy Digital, the cryptocurrency merchant bank launched by billionaire investor Mike Novogratz.