New crypto exchange launches with big ambitions

04 November 2020 | Web Article Number: ME202021141

Business Tech
Commerce & Trade
ICT In Industry

AMIDST a sea of crypto exchanges in the market, a new Hong Kong based exchange, with a presence in South Africa, is making some big promises about their product.

Named Centralex, the exchange has ambitious goals, but the founders are confident they’re within the realms of their abilities.

“It won’t be easy, in fact, it hasn’t been easy!” said CEO Tristan Roozendaal, “But we’ve built, we’ve tweaked, we’ve learnt, and we’re almost ready to show the world our creation.”

Roozendaal and his team say they built the exchange because they saw the opportunity for something new and fresh, and that regular crypto enthusiasts had become frustrated by how difficult mainstream exchanges were to use.

New crypto exchange launches with big ambitions

He argues that some of the major differentiators include Centralex’s clean, holistic user interface and experience, their unique two-level referral strategy, their “superfast” matching engine, their distributed liquidity system, their unique fee structure, and their swift customer service.

Headquartered in Hong Kong with an office in Johannesburg, the exchange will cater for the Asian, African, Oceanic, and European markets for now, and will be live toward the end of November.

From launch, users will be able to trade from anywhere in the world with the exchange’s native CenX token, giving them rebates on fees and allowing for “staking rewards”. Staking is a form of “interest bearing”, whereby users are rewarded for holding a certain amount of tokens in their digital wallets.

Centralex will offer trading in over 12 different markets, including Bitcoin, Ether, Litecoin, USD Tether, EOS, Tron, and numerous others. Roozendaal said users will be able to deposit fiat currency using their credit cards at “negligible fees” and will be able to trade within minutes thanks to their artificially intelligent KYC technology.

“We’ve thought long and hard about the kind of company we want to build. We designed the platform from the ground up, using our own experience as traders, miners and software developers, to build something that we would want to use day in and day out.

“We have done everything to ensure that our users are well looked after, with a core focus being on customer service. We plan on having 24/7 personal contact with our customers at any given time, prioritising their needs and overcoming their pain points.”

Roozendaal said the exchange will be live for new users toward the end of November, and on 2 November the team went live with their ILO (Initial Launch Offering).

The exchange plans on running its native CenX token on its very own blockchain by late 2021 and will be able to offer distributed application (Dapp) development in addition to utilising the chain for their unique distributed liquidity product. The blockchain currently used for the CenX token and distributed liquidity is the popular Dapp platform Ethereum. –

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