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Bibox Launches New Version of its Decentralized Exchange in Late March

Since the world’s foremost crypto exchange Binance has launched the testnet of its highly anticipated Binance DEX, more mainstream exchanges are considering the strategic layout of decentralized exchange.

In addition to Binance, Bibox, the world-leading AI-enhanced digital asset exchange, also announced the upcoming launch of the new products of its decentralized exchange

The exchange used to be incubated by minging hardware manufacturer Bitmain and was officially launched on May 24, 2018. At the end of that year, Bitbox announced the acquisition of as its first step to enter the decentralized exchange market. However, the original work team of did not follow the new boss, and the current team was reformed by Bibox.

Despite the large demand from crypto investors for decentralized exchanges, most of the DEXs have struggled to attract users and their trading volumes are negligible compared to the mainstream centralized exchanges according to data from DappRadar. People are still confusing why major centralized exchanges choose to launch a DEX project at this stage.

Ma Ji, co-founder of Bibox explained in an interview with blockchain media Odaily:

“Some digital assets cannot be accepted by centralized exchange due to its small user base and low transaction frequency, in this case, a  decentralized exchange is the best solution. In addition, some customers are seeking high-level privacy of their assets as well as transactions, and they  do not want to do KYC certification in a centralized transaction, decentralized exchanges are more in line with their needs.”

Currently, most of the decentralized exchanges on different public chains are inclosed, they can only trade the tokens based on the public chain and cannot afford cross-chain transactions.

To this issue, Ma indicated that, the is currently based on two public chains: the ETH blockchain and the EOS blockchain and cross-chain transactions are available between these two chains.

He added that: “We may add other public chains such as BTC, BCH, and RSK In the future. There is no technical problem, the only thing we concerned is the market demand.”

For the listing program, the would use the “exchange invitation + projects application” mode, with no listing charge. In addition, to the projects listed on the Bibox, can also be listed on without any further evaluation.

The new version of the will be launched in late March. Obviously, launch a decentralized exchange is not so hard for a mainstream exchange with a large user base. It can be a new strategy for the exchange giants to try in the bear mark.


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