BANKEX is a leading global financial technology company developing a tokenization ecosystem, providing technology and services at every stage. Now, as part of their STO Framework they have launched their very own BANKEX Token Exchange.
BANKEX Token Exchange will serve as a secondary market for security tokens and will reportedly support major security token standards including ERC-1400 and ST-20 token standards as well as ERC-888 security tokens from BANKEX that incorporate KYC verification methods.
Over the period of next one year, BANKEX will use of the license that its Virtual Financial Assets Act service provider is going to submit to the Malta Financial Services Authority. The VFA license is only granted to exchanges that have a strong Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures in place.
How Efficient is the New Platform?
- Fast Automatic Deposits/Withdrawals: The platform will be super fast where you don’t even have to wait for the exchange administrators to approve your deposit or withdrawals. The operations which have sums below 0.1 BTC are approved at once.
- Offers 2 types of API: You will have an option to choose whether to integrate your trading setup with BKX Exchange over web-based or over FIX protocol.
- Fast algorithmic trading: The platform is set touse FIX technology to exchange data with trading servers — this means no delays in placing your orders automatically.
The platform launched by BANKEX will offer services that cover the entire life cycle of a security token. This announcement comes at the time when other similar initiatives are also being put in place over the last few months by popular crypto exchanges including Binance. The main point to note here is that other than BANKEX none of the big market players can offer a full set of turnkey STO framework which supports a security token throughout its full life cycle.
How Secure The BANKEX Token Exchange Will Be?
- You can link as much as passwords to your account: You can use separate passwords for logging in, trading, and changing security settings, with added multi-factored authentication. There won’t be any limit.
- Token Storage Security: The tokens you will trade and hold on the Exchange are stored in BANKEX Custody cold wallet. The wallet will only accessible with your BANKEX ID, so you can be sure your assets are safe.
- Secure Trading Room: The trading terminal is built with the use of refreshable session certificate technology. It means that the token your computer uses to access the terminal changes every 2 seconds which is almost impossible to break.
BANKEX Token Exchange will allow high frequency trading (HFT), with up to 100 orders occurring in seconds, thus letting big algos spot trading opportunities.
To know more, visit: Website
Read our ‘Ten Step Guide to Launch your Own Security Token’ here