The World’s First Hybrid Cryptocurrency Trading Platform goes Live
Cambridge, London, 14 August 2018 – Traders around the globe now have access to the world’s first hybrid cryptocurrency trading platform, Blockchain Board of Derivatives (BBOD), which launched Friday, 3 August in partnership with GMEX Fusion Technology Suite.
When BBOD’s co-founder and CTO Chris Urbanowicz first pitched his vision of creating a hybrid cryptocurrency trading platform eight years ago, potential investors laughed in his face. At the time, he was one of the few people who saw the full potential of blockchain technology. Now, the trading community calls him a “tech wizard.”
Urbanowicz, who earned his PhD in econophysics, had devoted his academic and professional career to traditional economics and quantitative trading, but he knew he wanted to do something different – something that had never been done before. Despite the pessimistic response he received in the beginning, he didn’t give up. As time went on, he began finding other early-adopters and like-minded economists who understood his vision. After years of planning, development, and funding, Urbanowicz and his team finally launched the world’s first hybrid cryptocurrency trading platform.
What is a hybrid trading platform?
Until now, cryptocurrency traders have had to choose between centralised and decentralised trading platforms, with no options in between. Centralised exchanges process transactions quickly, but expose traders to security risks by requiring them to give up custody of their funds. Decentralised platforms offer enhanced security by keeping traders in control of their funds, but lag repeatedly and offer limited trading options.
However, this launch marks the beginning of a new take on trading – the hybrid approach. Blockchain Board of Derivatives’ hybrid trading platform combines the speed of centralisation with the security of decentralisation.
How does it work?
In order to keep traders in control of their funds, Urbanowicz and his team designed a unique custody solution: the smart contract wallet system. Using this system, each trader creates their own wallet designed specifically for trading on BBOD. The platform then connects the smart contract wallets to its high-speed centralised matching engine based on GMEX Fusion Technology Suite technology, which processes 1,250,000 orders per second with an average latency of 75 microseconds. This allows traders to stay in control of their funds without experiencing the lags and delays associated with entirely decentralised platforms.
Blockchain Board of Derivatives also offers a wide variety of leveraged peer-to-peer contracts, including:
- Ethereum-Dollar Perpetual
- Ethereum-Dollar Futures
- Bitcoin-Ethereum Futures
- Ripple-Ethereum Futures
Further, the platform’s native BBD tokens allow traders to save up to 20% in fees. By combining the advantageous elements of leverage trading with the security of decentralised custody, Blockchain Board of Derivatives gives traders the potential to maximise profit whilst minimising risk.
A Vision Comes to Fruition
“I am so filled with happiness and gratitude for everybody who worked with me to develop this trading platform,”
“In 2011, nobody believed in my vision. Now, people all over the world trade on BBOD. It started as a dream, and it grew into global movement. As we reflect on the past and move forward into the future, the team and I have made it our personal mission to continuously develop the platform. We’re constantly testing it, improving it, and looking for new ways to make it better each day. This is our journey. Through bold innovation and relentless perseverance, BBOD will continue to flourish as a platform, a team and a community.”
BBOD’s groundbreaking combination of decentralised custody, leverage trading, and high speed marks a new day in the world of cryptocurrency trading. Furthermore, it proves that with the right team, a powerful vision, and a whole lot of hard work, just about anything is possible.
Hirander Misra, CEO of GMEX Group and Chairman GMEX Technologies commented,
“We are delighted that BBOD are now live with our latest GMEX Fusion technology suite encompassing an exchange trading platform, with full crypto asset support and blockchain integration, to trade Ethereum based derivatives with a combination of ultra-fast order matching, security of funds and full facilitation of margin trading.” He added, “We are looking forward to continuing our work with BBOD to continue to enhance their unique cryptocurrency derivatives Exchange.”
INSIDE BBOD’S GROUND-BREAKING CRYPTOCURRENCY TRADING PLATFORM
Marketing and Public Relations
Marketing and Public Relations
For GMEX Group
The Realization Group
+44 (0)7974 937 970
About GMEX Group
GMEX Group is a set of companies that offer sustainable and innovative solutions for a new era of global financial markets. Providing business expertise, the latest technology, connectivity & operational excellence delivered through an aligned partnership driven approach. Company uses its extensive market infrastructure experience and expertise to create an appropriate strategic master plan with exchanges, clearing houses, depositories, registries and warehouse receipt platforms.
Company’s key business solutions enable the creation and operation of cost effective electronic exchanges and post trade infrastructure in multiple asset classes including equities, debt, FX, derivatives, commodities, cryptocurrencies and digital assets. Team operates in both developing and developed markets through the establishment of cohesive business and technology ecosystems. GMEX offers the added benefit of interconnection to multiple partner exchanges, to create global networks of liquidity.
GMEX was founded by Hirander Misra, co-founder of the Chi-X Europe exchange, a successful competitor to the LSE. It represents Mr Misra’s ongoing commitment to exploring new markets and new technical solutions, substantiated many times over with his efforts to expand access to capital markets through fast-emerging digital asset classes and emerging economies like India, Vietnam, Lebanon, Tajikistan and more.
GMEX Group ensures a cohesive strategic direction is maintained and comprises of:
GMEX Technologies: is a provider of multi-asset exchange trading and post trade technology through a unique partnership driven approach
GMEX Innovation: conducts R&D of technologically advanced new product solutions for exchange trading, clearing and settlement
GMEX Services: provides strategic consultancy, implementing services & support for exchanges and market infrastructure providers
GMEX Investments: enables selective seed and early stage strategic investments into market infrastructure and related FinTech companies.
For more information visit www.gmex-group.com or @GMEX_Group
Please note: This article was submited as a press release by third party. Cryptovibes.com does not endorse any descisions. Readers should do their own research before investing funds in any financial asset or attending any presented event. We are not responsible for any profit / loss your descisions might lead to.
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