Now all digital currencies can be added Crypto Next’s Global Platform, making all currency trade pairings possible for the first time.
Isle of Man - 17 May 2015 - Crypto Next plc today announced its new “create your own market pair feature” which allows any coin holder to create a market for a cryptocurrency. For the first time, digital currencies, regardless of their popularity, can be set against any currency, including fiat currencies. Coin developers, or indeed anyone with a desire to list a new or existing coin, can contact Crypto Next who will add the currency for a nominal fee of BTC 2 to cover the costs associated with the installation. This gives coin developers/holders the potential to list a digital currency on multiple exchanges worldwide. The feature was released alongside a number of system updates, including the integration of South American payment system, Astropay, additional safety features and new markets pages.
“Most exchanges are interested in high trade volumes, therefore have little desire to register all coins, but Crypto Next’s mission is to bring as many cryptocurrencies as possible to one platform, that is why we are offering this unique feature and allowing anyone to list their currency, not just those that have been voted in or have high trade volumes,” says Crypto Next CEO, Sharon Greenberg.
The process of adding a digital currency to the Crypto Next platform is simple and cost-effective: Someone wishing to list a cryptocurrency provides the Crypto Next development team with the wallet and integration instructions, and pays a fee of BTC 2 for installation costs. Crypto Next will then add the coin to the platform, which will make it available for deposit. Developers or coin holders will logically then have to deposit some of the currency into the system for it to appear on the exchange.
Although other exchanges already offer some of the lesser known digital currencies, they are only available for trade against BTC. The unique feature that Crypto Next is offering is that any coin can be paired against any currency, including Fiat currencies. The market pairings are set by the user depositing the digital currency in the system, and are restricted only by the availability of other coins on the platform.
Once the markets have been set, the pairings will automatically appear on the Crypto Next exchange, as well as be available on all the “white label” exchanges in the network. Although it is up to the individual white label operators whether they wish to include the newly registered currencies, coin developers have the potential list their currency on multiple exchanges worldwide.
Asaf Azulay, Crypto Next’s CTO said, “Coin developers don’t have a market if they can’t get on to an exchange, and until now have had to make do with BTC only pairings at best. Now, they can create their market. To get on to existing exchanges, they often need to be voted in, and then stay popular for long enough not to get delisted. With Crypto Next, they just need to integrate their currency. Obviously, coins will be deleted in certain cases, for example if the wallet stops working, the development halts etc. but as long as the wallet is operational, it can be listed.”
About Crypto Next
Registered in the Isle of Man, a jurisdiction that is openly friendly towards digital currency companies, Crypto Next’s platform has a global reach and offers a variety of languages, with recent additions including Portuguese and Romanian. In addition to providing multiple languages, multiple currencies, banking facilities and a regulatory framework, the Crypto Next platform adds security through vertical decentralisation as well as Isle of Man regulations that state that funds in the exchange be controlled by a Corporate Service Provider, such that fiat currencies in the network are secured by an independent third party.
Crypto Next specialises in providing a software platform to “white label” exchanges, that can choose from a variety of features, coins and languages to suit their preferences. All the exchanges in the network share Crypto Next’s unique tokenised fee system, whereby transaction fees can be paid for with the Crypto Next Coin (CXC), potentially saving savvy digital currency traders a great deal in fees. All white label exchanges are subject to the company’s rigorous AML, CFT Policy in accordance with Isle of Man regulations.
Sharon Greenberg, Co-Founder
Asaf Azulay, Co-Founder
Ofer Rotem, Director
USA +1 323 686 3359
UK +44 870 471 5733