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Blockstream, Sevenlabs Partner To Launch Decentralized Bitcoin Exchange

  • Blockstream, Sevenlabs partnered with Poseidon Group to launch a decentralized exchange for bitcoin and security assets.
  • The exchange, XDEX, has been built on the open source protocol TDEX and can operate 24/7.
  • The app is likely to launch on IOS and Android in Q4 2022.

Blockstream and Sevenlabs, bitcoin infrastructure providers, have partnered with Poseidon Group to launch the initial decentralized security token exchange for Bitcoin in Switzerland, per a news release delivered to Bitcoin Magazine.

The exchange, XDEX, will support assets within the Bitcoin ecosystem and invite peer-to-peer trading, effectively removing intermediaries from the transaction.

The usage of P2P infrastructure by current financial markets is inevitable, said Lars Schlichting, XDEX general counsel.

XDEXs launch is really a milestone in this transition to a far more decentralized economic climate permitted by Bitcoin and can pave just how for other finance institutions and trading venues to evolve, Schlichting continued.

Blockstream provides usage of the Liquid Network, a layer-two application used to scale Bitcoin, enabling the trading of assets such as for example; bitcoin, Euro and Swiss Franc stablecoins, along with other Liquid-based assets. Upon launch, that is likely to be Q4 2022, users can trade Blockstream Mining Notes and the Infinite Fleet equity token.

Furthermore, Blockstream may also be providing usage of the Blockstream AMP, that allows the management of programmable assets on the Liquid Network.

Furthermore, users can transparently access XDEX night and day because the joint-venture is leveraging the TDEX open source protocol, which is managed by Sevenlabs.

“By leveraging the Blockstream Asset Management Platform AMP, TDEX’s decentralized protocol, and Liquid’s Confidential Transactions and speed, XDEX forms a complete stack of Bitcoin technology that is clearly a blueprint for future securities exchanges and results in the further reformation of the original capital markets and disintermediation, said Adam Back, CEO of Blockstream.

Initially, XDEX will launch on Android and IOS as a mobile application and the team intends to build up a web-based platform later on that may likely support more assets.

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