DigitX, India's first business-to-business (B2B) crypto trading exchange, began its trading operations on Tuesday.
According to the statement released, DigitX aims to provide a transparent and secure model in its first industry initiative with a network of trusted links, creating trust and confidence in cryptocurrency's own investors and traders.
“At DigitX, with our unique model of Trusted Link, we are leveraging traditional equity and commodity markets to excite confidence in crypto trading for the first time. As co-founder of DigitX, Ashish Mehta said, this is our serious initiative to educate the investor community and people at large about the potential of this alternative asset class.
He said that crypto today enjoys a high degree of popularity among a certain segment of the investor community. Crypto has been a roller coaster ride since inception, as it faced questions over security and transparency, Mehta said.
He further stated that DigitX is commencing operations with a select set of trusted members and by the end of 2021, the Crypto Trading Exchange will aim to have 100 trusted members on board.
On the importance of regulating cryptocurrencies Ashish Mehta said, "Crypto is an alternative asset class, which promises to bring a lot of capacity, positive disruption, scalability and is fast in customization supported by many efficient technology backbones. We strongly believe in the positive role it can ride blockchain and distributed laser technology in our economy. It is our view that in order to expand this opportunity, crypto must be regulated by legitimate financial institutions of the country. We hope that the industry and all stakeholders can work in this direction. "
OCTOBER 06, 2020
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