Crypto Exchange Monarch Releases a New Digital Asset Marketplace to Support 1,900 Tokens
Leading cryptocurrency wallet and exchange platform Monarch, on July 1st launched a new digital asset marketplace with the capacity to support 1,900 separate tokens.
The crypto wallet also announced its effective partnership with Ambisafe, a financial service provider, with the main purpose of creating a licensed alternative trading system which will go a long way in enabling the investment in tokenized entities.
A New Marketplace
Speaking on the endless opportunities enshrined in the new platform, the firm stated that a pre-IPO token for SpaceX, which represents private shares in the company will be offered on the ATS.
Services on the Monarch marketplace is diversified. It consolidates a number of services which includes a decentralized wallet, a portfolio tracker, an ERC20 exchange and a Universal KYC integration on a platform that enables financial services like credit purchases of crypto and offers 7.1% APR interest on all available crypto holding.
Cutting Off Excessive Applications
Commenting on the latest stride made by the company, Monarch President Robert Beadies is optimistic that the company’s suite of applications will streamline the industry and aid the customers in getting rid of excessive applications.
The project advisor and CEO of Bitcoin.com, Roger Ver is of the opinion that the complex processes in the crypto space are preventing crypto from going mainstream. He said:
‘’Right now, overly complex processes are preventing cryptocurrency from going mainstream and allowing people to control their financial lives.’’ The platform is solidly behind all available
ERC20 and SLP platforms.
The president went on further, stressing that consumer safety will be heavily increased by reducing potential points of attack. To achieve this, the platform thus created a mechanism that will allow for the transfer of assets between hot and cold wallets and still allow the users to maintain ownership over their private keys and seeds.
Presently, the wallet feature is licensed as a broker-dealer, but still waiting for necessary approval from the SEC and FINRA.
Also waiting for the approval from the regulatory agencies is the Monarch’s integration of Ambisafe’s order book, that’s used to buy, sell and also hold securities on the blockchain. The platform will also allow early investment access to private launches.
The Monarch marketplace was formed by the host of Beadles on Youtube and former Johnson and Johnson engineer Sneh Bhatt. The two tech entrepreneurs provided seed funding for the project, and are presently conducting a token generation event that will come to an end on June 30.
In related news, the cryptocurrency market is crowded with a lot of ideas, concepts, inventions and projects, which brings the question of trust and authenticity. A crypto expert, however, is of the opinion that only effective regulation can save the image of the industry.
Bitcoin Exchange Guide reported in May that the former chairman of CFTC Gary Gensler is of the opinion that only a well thought and clear regulations would protect users from market manipulation, loss of private keys and other essential commodities.