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A Canada-based blockchain network, Blockstream, and Sevenlabs, a Bitcoin firm, have partnered with Poseidon group to launch XDEX. The development was confirmed in a press release on Monday.
The new trading platform will enable peer-to-peer (P2P) trading. It will also promote digital assets within the Bitcoin ecosystem. Also, through the partnership, XDEX intends to eliminate middlemen from P2P transactions.
The General Counsel of XDEX, Lars Schlichting, has reacted to the launch. According to him, P2P infrastructure is necessary due to the current downturn in financial markets. Schlichting further states that unveiling the new bitcoin exchange is a landmark “transition to a more decentralized financial system made possible by Bitcoin.” He believes the venture will be a stepping-stone for other financial institutions and trading ventures to thrive.
Blockstream will facilitate access to the liquid network. A layer-two application wielded to scale Bitcoin. The liquid network will allow the trading of Bitcoin, Euro, Swiss Franc Stablecoins, and other assets specified in the liquid protocol. The XDEX will be launched by the fourth quarter of 2022. Also, customers will be able to market Blockstream Mining Notes (BMV) in addition to the Infinite Fleet equity token.
According to the press release, Blockstream will grant access to the Blockstream Asset Management Platform (AMP). This will enable the exchange to regulate programmable assets on the Liquid Network.
TDEX features a full stack of Bitcoin tech – Back
Blockstream CEO Adam Back stated that TDEX features a full stack of Bitcoin technology using the Blockstream Asset Management platform (AMP). It also uses its decentralized protocol and Liquid confidential transaction and speed. According to Back, these tools are considered the basic foundation for future securities exchanges. The Ceo added that the development “leads to further reformation of the traditional capital markets and disintermediation.”
The General Counsel of XDEX, Lars Schlichting, has reacted to the launch. According to him, P2P infrastructure is necessary due to the current financial markets. Schlichting further states that unveiling the new bitcoin exchange is a landmark “transition to a more decentralized financial system made possible by Bitcoin.” He believes the venture will be a stepping-stone for other financial institutions and trading ventures to thrive.
Users will be able to have access to XDEX constantly; this access will manifest as a result of the joint venture adoption of the XDEX open source protocol. SevenLabs will supervise the open-source protocol.
Currently, the XDEX will be launched as a mobile application on Android and IOS. The exchange, however, has plans to unveil a web-based platform that will support bigger assets in the future.
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