A cryptocurrency services firm AlphaPoint has announced the launch of a new decentralised exchange by them on Monday.
In a blog post, AlphaPoint CEO Salil Donde said that despite the clients would not be able to initiate trading for a span of some more weeks; registration for their platform was opened by a San Francisco-based marketplace DCEX. Notably, XRP is used as the “base currency”. It means that the denominations of various trading pairs by market cap are in the form of this cryptocurrency.
Currently, DCEX offers access to all the coins. However, soon a sum of 15 trading pairs will be offered including Bitcoin, XRP, Litecoin and many more. Moreover, NEO and ADA cryptocurrencies will be added to the list of other trading pairs in the upcoming months. The announcement said that the exchange is based on AlphaPoint’s distribution ledger. Donde wrote in the blog that in order to move the funds having low transaction cost as fast as possible, DCEX is using XRP as a base. Providing an advantage to the traders, XRP ledger is specially designed for high speeds of execution and settlement within a short span of few seconds.
AlphaPoint is a fintech company which enables customers to launch new products and services by providing institutions enterprise-grade blockchain solutions to digitize assets, launch markets, and reduce operational costs. Furthermore, a general-purpose distributed ledger named ADLP was developed by the company. It offers a flexible and secure means of engaging with digital asset issuance to firms and institutions. In May 2018, AlphaPoint announced its successful raising of $15 million in its first round of venture capital funding. Following this, they have decided to launch the decentralized exchange system.