NASDAQ-Powered Crypto Exchange DX Goes Live Next Month

The centralized exchange will offer zero-fee trading of the top six cryptocurrencies

by -
15 May • 2.5 min
In News

DX.Exchange, the first cryptocurrency exchange backed by NASDAQ’s technology, said on Monday it plans to go live next month.

The centralized platform will use NASDAQ’s matching engine, which is already used by 70 other exchanges around the world, and will be fully regulated in the European Union, DX said in a statement. It further revealed that DX will not be available for US customers at launch, though the exchange is reportedly “in a dialogue” with US regulators.

The exchange will allow customers to purchase crypto with fiat money, to trade on a token-to-token basis, as well as to convert the coins back to fiat and to withdraw it. Described as “what you see is what you get,” platform will involve no trading fees, with a fixed EUR 10 monthly exchange membership charge.

"Cryptocurrencies have disrupted the Fintech revolution, and DX.Exchange stands with the basic principles of blockchain technology, trust and consistency," DX CEO Daniel Skowronski said in the company’s press release. "Crypto enthusiasts shouldn't have to pay more than a minimal membership charge to trade with their peers, and they shouldn't have to trade in an unregulated unsecure environment. The combination of NASDAQ technology and the DX.Exchange interface is one that will create a one-of-a-kind, fair trading experience, that puts the traders first.”

DX will open trading with the market’s top six cryptocurrencies, including Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), and Litecoin (LTC).

The exchange will eventually feature the top 20-25 coins, as well as some smaller tokens.We are supporting blockchain technology. And the way we can help this ecosystem to progress is by vetting the tokens and making sure the good ones are promoted. We are not going to list coins, just because they pay us. Those who are worthy – will be listed,” Skowronski noted.

NASDAQ CEO Adena Friedman said in a recent television interview with CNBC that the world’s second-largest stock exchange by market capitalization is open to becoming a cryptocurrency platform as the regulatory environment matures.

While establishing its own digital assets exchange is still in the future, NASDAQ has already moved forward to support existing exchanges. The company announced last month a surveillance deal with cryptocurrency exchange Gemini Trust Company, founded by early bitcoin investors Tyler and Cameron Winklevoss, to ensure a “rules-based marketplace”.



Last week, multiple media outlets reported that another traditional finance institution, the Intercontinental Exchange (ICE), which owns the New York Stock Exchange (NYSE), is considering letting customers buy and hold Bitcoin. The news came just days after the New York Times quoted a Goldman Sachs executive as saying that the bank would debut BTC futures “within weeks”.