- Blockstream and Sevenlabs have partnered with Poseidon Group to launch a decentralized exchange for bitcoin assets and security.
- The XDEX exchange is built on the TDEX open source protocol and will run 24/7.
- The app is expected to be launched on IOS and Android in the fourth quarter of 2022.
Blockstream And the Seven LabsBitcoin Infrastructure Service Providers, who have partnered with Poseidon group To launch the first decentralized security token for Bitcoin in Switzerland, according to a press release sent to Bitcoin Magazine.
exchange, XDEXIt will support assets within the Bitcoin ecosystem and allow peer-to-peer trading, effectively removing intermediaries from the transaction.
“The use of P2P infrastructure by existing financial markets is inevitable,” said Lars Schleichting, General Counsel at XDEX.
“The launch of XDEX is a milestone during this transition to a more decentralized financial system made possible by Bitcoin and will pave the way for other financial institutions and trading venues to evolve,” Schlichting continued.
Blockstream will provide access to liquid web, which is a second layer application used to measure Bitcoin, enabling the trading of assets such as; Stable Bitcoin, Euro, Swiss Franc and other liquid assets. Upon launch, expected to be the fourth quarter of 2022, users will be able to trade Blockstream Mining Notes and the infinite fleet Copyright symbol.
Furthermore, Blockstream will also provide access to BLOCKSTREAM AMPwhich allows for programmable asset management on the liquid network.
In addition, users will have transparent access to XDEX around the clock as the joint venture benefits from TDEX An open source protocol, which will be managed by Sevenlabs.
“By leveraging the Blockstream Asset Management Platform (AMP), the TDEX decentralized protocol, and secret fluid and velocity transactions, XDEX constitutes a complete suite of Bitcoin technology that is a blueprint for future stock exchanges and leads to the further reform of traditional capital markets and de-brokering,” said Adam Buck. Blockstream CEO.
Initially, XDEX will be launched on Android and IOS as a mobile application and the team intends to develop a web-based platform in the future that will likely support more assets.