AlphaPoint which is one of the renowned cryptocurrency services and advisory firms will be powering and organizing a newly set-up decentralized exchange as per the valid source of the company. As per the company’s source, DCEX which is a San Francisco based marketplace has opened registration for its platform. However, clients will not be able to initiate its trading activities over the next few weeks.
On the transactional summary front, the exchange uses XRP as its base currency for the variety of transaction. Having said that there are many trading pairs that are denominated in the third largest cryptocurrency by market cap as said by the CEO of Alpha Point. With this, DCEX has announced to offer collectively 15 trading pairs that also included XRP, Litecoin, Bitcoin, Ethereum Classic, Vechain Zcash among other cryptocurrencies. Additionally, it will include ADA and NEO trading pairs in a month time. Besides all this in place, DCEX received the access to 10 coins listed in the Bloomberg Galaxy Crypto Index that included EOS, Dash, Monero, etc.
The exchange is organized on AlphaPont’s distributed ledger with XRP as a base to execute funds related transactions faster with low transaction costs. The XRP ledger is designed for organizing high execution speeds and transaction settled in a couple of seconds that adds value to traders. The newly set up crypto exchanges was made it public the moment after AlphaPoint successfully raised $15million through first round venture capital funding. The capital raised through Galaxy Digital that is the cryptocurrency merchant bank owned by Mike Novogratz a billion dollar investor.