We launched CBX at the time of bear market and I believe there is no better timing to launch than now. CBX was officially introduced on 11 November after three months of stern beta testing. I am very confident that we will position ourselves as the best cryptocurrency exchange in the marketplace.
We are working to serve the crypto community and expand it in the next 12 months to traditional finance participants, I call it “CBX vision 2020”. This calls for us to create a robust trading platform capable of delivering consistent growth under any conditions and connecting all the dots and gaps required for the crypto trading community. I will utilize my 20+ years of experience to push forward for a fair, orderly, market-driven and well-regulated marketplace in the crypto trading space.
CBX currently works on different initiatives and I would like to put those in timeline priority. We are currently working with the Government of Uzbekistan in a number of projects related to the implementation of Blockchain Technologies on a national level. I believe this will serve as a model to encourage other countries to implement Blockchain as a part of their mainstream economy.
Secondly, I believe there will be some sort of regulation to be implemented on crypto trading and there is a rat race from different jurisdictions pushing through this. Most jurisdictions are concern about AML KYC process and it is not easy to conclude a foolproof solution. I have been involved in reviewing this and we will be selecting our regulation very soon.
Meng, CEO of CBX
In terms of products and services, I believe some of the product features from the traditional markets will be added in the crypto trading space. We are designing part of the offerings and we shall make a few product announcements and give ample of time for market participants to experience this. I am not revealing anything at this moment!
Open innovation plays a vital role in swiftly creating quality products and services for our clients. We have established a dedicated innovation office to guide our efforts and are teaming up with start-ups to get good relevant projects to be listed on CBX. We are also conducting ongoing research into blockchain technologies. I am committed to pursuing these initiatives to help us further leverage digital innovation in our business.
Last week, we announced our latest feature, we enabled our FIX API. Yeah! This is an important milestone for traders especially from the conventional markets to connect directly into CBX. Our overriding philosophy of placing clients at the heart of everything we do is a deep rooted part of our DNA and remains unchanged. We are dedicated to bringing more capital market participants into the crypto trading side.
We seek to deliver a better future as an open, fair and trusted partner to our clients, embodying the values of entrepreneurial leadership, teamwork and integrity.
I wish you Merry Christmas and a Happy 2019 New Year!
Meng Chan Shu