While Bitcoin rejoices in its 10th birthday, Bibox, the steady- pacing top-tier digital asset exchange, is celebrating its one year anniversary. News has been leaked that Bibox is planning its launch of BIX Bonds and opening up bond trading section on the platform itself. Would it be the ignition of a revolution in the bearish crypto market?
With a total market capitalization of $823.8 billion at its peak, the crypto market went through bull- and bear-runs and has gotten everyone’s gaze upon itself. The faded craze of ICO and the controversial opinions from inside and out of the crypto industry show loud cries for practical innovation. Investors, believers and bystanders are all watching every movement the market has to offer both eagerly and carefully.
In the past year, Bibox has opened offices in 7 countries and acquired Chain Capital with the VQF license in Switzerland. By the end of the this summer, Bibox started its incubator BiboxLab, located in New York, in faith of supporting the utilization of blockchain technology and in search for real projects that root in and land on the ground. The first admitted project was Vocean, a platform where financial contract is decentralized- a concept that seems easy to grasp. In the traditional financial market, there is $80 trillion worth of global equity assets, while the low-risk fixed income credit assets comfortably hold $100 trillion. If we compare this market to the current crypto market and try to reach a slightly further sight, we will see a huge market for crypto bonds. It is apparent why Bibox has chosen Vocean over myriads of blockchain projects and is scheduled to go on a test-drive.
On 29th November, BiBox is hosting a bond summit in Singapore, searching for the new opportunities for digital asset.
For the unpredictably volatile market where value is not always aligned with price, value- oriented investors are often times torn in between the choices. A lower entry barrier and milder fluctuations would attract respectively more onlookers and professional traders to participate rather than joining the frontline and crossfires of the battlefield of crypto market. In the traditional financial market, the circulation of bonds relies on the credit endorsement from regulators and intermediaries. In addition to regulatory approval, the bond issuance shall involve underwriters, auditors, legals, third party credit rating agencies, custodians, registrars, and settlement agencies with large cost involved. Every step of which could be a possible risk. Those intermediaries involved can always lead to information asymmetry and insider tradings, and financial systems isolation. With blockchain technology put in the right spot, the upcoming BIX bonds will be the first to test the waters of a yet unsaturated market. Issued through the platform where a complete cryptocurrency financial contract infrastructure and supporting facilities are built, there is no doubt that the BIX Bonds will bring the market long lost excitement and possibly point out a new direction rather than STOs (security token offerings) that are somewhat a placebo for the cure.
Ranked 8th among exchanges on CoinMarketCap, Bibox could be considered a strong candidate for many roles in the industry. From vote-to-listing to CunBiBao, it is clear that Bibox’s strategies are always powered by providing quality service and max returns to its users while keeping a fair playground. When in a newly-emerged industry, the balance between bearing the responsibilities and morale that are needed in a rather chaotic market and maximizing profits is evidently difficult to keep. However, when we look closely at the top-tier exchanges, Bibox seems to be the rare exception that kept that balance. It is not only surviving the harshness of the market, it is flourishing and is showing a lot more potential than it did during even the good times. The BIX Bonds would be a scarce but much anticipated combination of current value and future potential as an accessible product. Details of the bonds and related trading section have not been known, the innovation and practicality of the product along with the reputation and history of the establishment works together envisioning this promising revolution.
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