Extauri to Open Fully-Compliant Cryptocurrency Exchange to Rival Bakkt and Nasdaq in EU
New EU Crypto Startup Extauri Will Compete Against Bakkt to Launch Fully-Compliant Cryptocurrency Exchange
A new cryptocurrency startup called Extauri announced itself to the world today. The EU-based company aims to compete against Nasdaq, Bakkt, and others in launching a fully-compliant cryptocurrency exchange.
The Extauri exchange already claims to be compliant in the European Union. The exchange has an ECN license and has received approval from FMA and BaFin. It adheres to the standards of the Economic and Monetary Union of the EU.
The Extauri.com website describes the platform as offering “licensed & legally compliant crypto, fiat & securities trading.”
The idea of Extauri is that users will be able to trade fiat currencies, cryptocurrencies, and securities from one convenient platform. That platform will be regulated, licensed, and compliant with all applicable laws. Such a platform would attract retail and institutional investors to the space – similar to what Bakkt and ErisX plan to offer.
In fact, the exchange will launch at around the same time as Bakkt. Bakkt has scheduled its launch for November 2018. Extauri, similarly, will begin selling its TAURI token on November 15.
TAURI token holders will enjoy a number of privileges on the exchange, including a 50% discount on platform fees, transaction mining, community votes and rewards, service discounts, and zero-transaction time services.
There will be a total supply of 2.1 billion TAURI tokens, with 1.25 billion (65% of the total supply) available during the ICO at a base price of 0.03 EUR.
— Extauri (@extauri) October 5, 2018
The Extauri website features a basic overview of some of the features that are expected to be available on the regulated fiat and crypto exchange.
“Extauri is Europe's legally compliant trading platform for utility and security tokens as well as traditional banking products based on crypto and fiat.”
Key features advertised by the exchange include:
Extauri’s basic mode allows retail investors to access an onboarding tool that guides beginners step-to-step, from the first phases of signing up to the final phases of using the trading platform. Extauri claims this “reduces the risk of costly mistakes.”
Extauri’s professional mode allows users to customize the trading platform interface, the portfolio manager, and the dashboard according to their own specific needs.
Customizable Portfolio Manager:
Extauri’s customizable portfolio manager gives users on all devices a clear, efficient, individualized surface layout. Users can enjoy features like a status report of the assets held, a currency overview, and other functions.
Extauri has a feature called a “Trading Butler”. The butler’s job is to send a push notification to the user. Or, the butler can be setup to buy and sell a predetermined amount or percentage of a token if a certain limit is hit. Basically, it’s a way to setup orders.
By the end of 2019, Extauri wants to offer users customizable trading bots, copy trading, chart-based trading, wallets, crypto and fiat debit cards, and zero transaction time payments, among other features.
Extauri Launch Date
Extauri has scheduled its token sale for November 15, 2018.
By the end of the token sale, Extauri hopes to have released the closed beta version of its platform. The full trading platform will launch in 2019.
Extauri seems to be on a similar timeline to ErisX, the exchange platform announced earlier this week. Like ErisX, Extauri aims to be fully licensed by the end of Q4 2019.
Bakkt, which may be the biggest competitor to both ErisX and Extauri, meanwhile, is scheduled to launch in late 2018.
Some of the key goals for 2019 include the lauch of customizable trading bots (Q2 2019), copy trading and chart-based trading (Q2 2019), setup of My Admin Wallet for users (Q3 2019), and crypto and fiat debit cards (Q4 2019.
Where is Extauri Based?
Extauri is registered and headquartered in Liechtenstein. The exchange is operated by a company named Moneeda Aktiengesellschaft (AG). That company was founded in Q1 2018 and is also based in Liechtenstein.
Extauri Will Compete with Bakkt, ErisX for Retail and Institutional Customers
Extauri will compete with Bakkt, which launched earlier this summer to provide a regulated, compliant crypto on-ramp to retail and institutional investors. Bakkt is supported by Starbucks and Microsoft, among other major corporate names. It’s a subsidiary of the Intercontinental Exchange (ICE), which owns the New York Stock Exchange.
Meanwhile, earlier this week, a new startup called ErisX was launched by a Chicago-based trading platform. That exchange is supported by TD Ameritrade and other major financial names in the space. ErisX will launch regulated crypto-trading on spot and futures markets, making it easier for retail and institutional investors to get involved in the space.
Is This the Start of a Crypto Arms Race?
Earlier this year, the crypto community was buzzing when it was revealed that Bakkt was launching regulated crypto trading in partnership with ICE, Starbucks, and Microsoft. Many called Bakkt the biggest news story of the year for crypto. They claimed Bakkt could pave the way for billions – even trillions – of dollars of institutional capital to pour into crypto.
Earlier this week, people started buzzing when ErisX was announced with similar promises. Now, we have a third company called Extauri that aims to provide regulated crypto onboarding. All three of these companies are supported by major names from across the financial and crypto industries.
Is this the start of a crypto arms race among major financial institutions?