For the first time ever, secure crypto exchange PlatinumDEX is allowing early adopting ICO’s and traded crypto currencies to register for pre-listing.
It has been a tough few weeks for crypto as the industry demonstrated some of the failings that incurred the wrath of Nouriel “Doctor Doom” Roubini.
In a demonstration of the dependency of some crypto currencies on the largesse of exchanges, Binance announced it was delisting Bytecoin (BCN) just 5 months after it was reportedly paid 693 million BCN coins to list it in the first instance. This had a catastrophic impact on Bytecoin and its investors, with $100 million wiped off its value.
“I believe that the due diligence an exchange performs in the decision-making process as to the validity of an ICO’s claims are critical to the long-term prosperity and success of the crypto ecosystem,” said Rosamund Blomfield-Smith, the veteran City of London investment banker and current Chairman of PlatinumDEX.
The carnage caused by the Binance news was nothing if not egalitarian as 3 other crypto currencies, also dropped by Binance, suffered a similar fate to Bytecoin. ChatCoin (CHAT) lost 22% in value, Iconomi (ICN) dropped 9% and Triggers (TRIG) crashed 39%.
Alexander Rogan, CEO at PlatinumDEX commented:
“It is important for the industry to stand up to the challenges it faces and carefully vet ICO’s for suitability. Failure to do so can lead to huge losses to investors and the accusations ‘pumping and dumping’ as we have seen across the media. The industry needs to take a lead to establish trust and security. Recent activities in the market show that proportionate regulation and strong corporate governance is needed now, more than ever, to protect investors from the unscrupulous.”
The news comes as PlatinumDEX invited ICO’s and existing crypto currencies to register with them for an early listing.
PlatinumDEX is a FINTECH company raising up to USD $75 million via an ICO to fund a network of hyper secure crypto-fiat currency exchanges. These will be deployed in the G 20 countries (excluding China and India for legislative reasons only) plus several additional strategic locations.
The first platform will be deployed in a re-purposed, cold war era nuclear fallout shelter under the Alps. PlatinumDEX expects to be licensed and regulated to operate by the European Union by December 2018. The first PlatinumDEX exchange is scheduled to go live end of Jan 2019. In Q1 2019 the company will apply for an e-Money Institution license and provide (secure) fiat e-banking facilities.
PlatinumDEX’s internal functionality is being built on blockchain so that every transaction is recorded and always remains inviolate: the cyber defences cannot be “switched off” and PlatinumDEX will make available a continuous real time feed to one of the “Big Four” accounting firms for audit and transparency purposes.
Because of the background and experience of its team, PlatinumDEX can bring military-grade security to its operations to meet a “High Threat” environment. It will run regular “red-blue team exercises” and penetration testing to ensure a secure platform. Because of these various measures, PlatinumDEX will be fully protected, and more secure than any other crypto-exchange, and better than many real-world banks.
PlatinumDEX also strives to be “the most globally compliant crypto exchange” and will, therefore, apply strict Know Your Client (KYC), Anti-Terrorist Financing (ATF) and Anti-Money Laundering (AML) standards in its operations.
Video Link: http://player.vimeo.com/video/296842304
Company Name: PlatinumDEX Limited
Contact Person: Alexander Rogan, Chief Executive Officer
Email: Send Email
Country: United Kingdom