Centralex, a crypto-exchange startup with a goal of becoming a global one-stop-shop for all digital asset-related services, will open for trading in May. The exchange, which holds a European cryptocurrency exchange license, promises to offer users a refreshingly clean and user-friendly interface which will serve as the foundation for the many innovative, adoption-promoting features the team plan to roll out in the coming months and years.
Centralex is not a CEX or a DEX, but rather what the team has dubbed “Custo-DeFi”. Custo-DeFi merges the convenience of a CEX with the freedom of a DEX.
“Our platform allows [users] to stake, participate in governance, and connect with other DeFi solutions on the market, including trading on UniSwap or any other decentralized exchange directly from the Centralex platform,” said CEO, Tristan Roozendaal
This unique capacity to leverage the benefits of both types of exchange is made possible by Centralex’s partnership with cutting-edge, MPC-wallet provider, Fireblocks, and their extensive asset network. “At present, there is nothing like us on the market,” Roozendaal adds.
The defense-in-depth security system offered by Fireblocks ensures user funds are effectively protected from many of the traditional risks associated with digital asset transfers.
Beyond Fireblocks, Centralex has secured agreements with Chainalysis for transaction traceability, KYCaid for KYC and document verification, and Simplex for enabling a range of fiat-to-crypto payment processing options. They have also integrated RoyalPay as their cross-border payment service provider.
Centralex will kick off with 40 trading pairs and fee-less trading for the first month, a perk that is sure to attract beginner and professional traders alike. After the introductory month, fees will average out to an extremely competitive 0.098%. Users can get a further 25% discount if they choose to pay their fees in CenX, Centralex’s deflationary token. An attractive 25% of trading fees accrued over the first year will be distributed to CenX stakers on a pro-rata basis.
The team at Centralex have ambitious plans for this year. At launch, the exchange will be a regular spot exchange with liquidity and market making, but throughout the year a range of DeFi solutions and localized features of everyday convenience will be incrementally added to the platform. In Q2, they plan to launch their staking and governance portals, as well as their mobile application for both Android and iOS. Also, in Q2, in select jurisdictions, users will also be able to access Centralex’s unique utility portal, allowing them to pay utility bills with crypto or fiat directly from the app. By the end of the year, they plan to install 50-100 Centralex ATMs in various cities across South Africa.
CONTRACT ADDRESS: 0x504cde95dbc5d90d09b802f43b371971adbecf79
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