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ForDeX Exchange Launches for StableCoins
Traders Magazine Online News, February 11, 2019
ZPX is pleased to announce the official launch of the alpha version of ForDeX, a stablecoin-focused exchange built on 0x. ForDeX is the first-of-its-kind solely focused on enabling traders to buy, sell and store wealth in a range of stablecoins denominated in a host of currencies including the US Dollar, the Korean Won and the Singapore Dollar.
“ForDeX addresses a host of needs that cryptocurrency users have at the moment. First and foremost, it has a ready fiat-on-ramp at launch which ensures that users are able to convert their fiat into their favourite cryptocurrencies on the platform itself. Second, being a DEX (decentralized exchange), it is fully decentralized and does not, under any circumstances, ask for custody of user funds. Last, it supports multiple wallets such as Trezor, Ledger and Metamask.”, said Ramani (Ram) Ramachandran, the CEO and founder of ZPX, the company which has built ForDeX.
“We’ve currently added 3 US Dollar stablecoins and 1 Korean Won stablecoin, KRW. Our short-term plan is to enable margin trading, shorting and leverage to allow users to take on larger positions without committing too much capital. Our long-term goal is to become a one-stop platform for cryptocurrency foreign exchange trading (which is why the platform is called ForDeX - a foreign exchange DEX).”, according to Gangadhar Sulkunte, who heads products at ZPX.
Currently in its alpha version, ForDeX invites users to try out the platform and engage with the team to improve and modify features that they may require. ZPX plans to continue alpha testing for another few months and then launch a beta version with more features installed.
About ZPX
ZPX is a Singapore-based venture-backed firm operating in the blockchain space with offices in Singapore, India and the US. ZPX investors include the founder of Google AdSense, two tech unicorn founders and the leading Singaporean early stage VC. ZPX has built multiple blockchain products including 108Token and Satoshi&Co.
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