BANKEX, Devexperts Partnership to Reduce Frequency of Crypto Asset Liquidity Issues
BANKEX, a fintech company that specializes in tokenizing real world assets has partnered with Devexperts, a trading software developer, to help create a product that will move the cryptocurrency space towards maturation and growth.
This is even as more real world assets are being tokenized by BANKEX and others. The product is still being developed by the company and is aimed at improving crypto trading between B2b and B2C entities.
This is in addition to BANKEX working on products that will facilitate an easier digitization of real world assets like franchise, entertainment, media and real estate. To aid this process, the company has also created a few smart contracts products targeted at managing supply chains, custodial services and payments.
This partnership is bound to drastically improve the state of things in the crypto sector and reinforcing investor confidence.
Liquidity problems are pretty commonplace in the crypto space. This has caused institutional investors to be wary of investing in cryptocurrencies and digital assets. This partnership between both companies is geared towards solving these liquidity problems, even as the industry continues to grow.
This is happening even with the continuous growth in the sector, with many exchanges popping up in spite of their highly limited liquidity. A viable solution that helps address this problem will encourage institutional investors to invest in the sector and increase their efficiency.
Speaking on the collaboration between both companies, the chief operating office of BANKEX, Dmitry Dolgov said that they went into partnership with Devexperts because they had cognate experience with fiat currencies and cryptocurrencies. He said,
“We were looking for a company that has understanding of both crypto and fiat money. Devexperts’ experience in developing complex multi-asset trading platforms was the primary reason behind Bankex’ decision to work with them. We are now well placed to provide convenient access to crypto”.
Another reason for the partnership is to help bring together various fragmented cryptocurrency marketplaces, by creating a platform that serves as a bridge to all of them. This platform will be largely B2C and dedicated to further unifying the sector.
So, through a combination of these marketplaces, certain liquidity requirements will be met effectively and retain investors can invest with peace of mind.
Reiterating this, Evgeny Sorokin, SVP of Software Engineering at Devexperts, said
“We have successfully concluded the first phase of the project. We believe that Bankex will raise the bar in the crypto liquidity sector, and we are excited to contribute Devexperts technology expertise to this initiative,”
The platform will also create an STO framework that will serve all listed security tokens for the duration of their offerings. This custom made platform will be unique, and aid the impending STO boom.
Both BANKEX and Devexperts’ histories and areas of competence makes them the perfect candidates for this project. Both of companies have developed excellent solutions for the capital markets, as well as traditional finance.