I had a wonderful time sitting down with Jane King of Small Cap Nation at The New York Stock Exchange.
One of the major problems XTRADE.io is solving is the unprecedented fragmentation that is currently taking place in the crypto space. There are already more than 60 active exchanges with no universal single point of access for individuals and institutions alike to participate, evaluate and trade assets with ease.
There's an enormous lack of liquidity within markets because the volume of individual assets varies on different exchanges. If you want to access to your capital, you need to trade on the right exchange at the right time. This just doesn't make any sense.
There's also a lack of account access, which remains clear by anyone's attempt to simply open an account. For a lot of smaller exchanges, you'll have to open an account in Korea, in Japan, in the US, or in Europe in order to access varying pools of liquidity. It's a cumbersome process to say the least.
I remember when I was opening an account at one exchange 8-9 months back. I had to literally hold up my ID and in the other hand, hold up a written statement signed by me saying that I was opening an account, and then somehow I had to take the picture! This is the current state of the art in the account opening process for many of these smaller exchanges. Imagine Jamie Dimon opening an account like that. It's just crazy. It's never going to happen!
One of the innovations XTRADE.io has been able to create is a universal API to connect all 60 exchanges together. It's commonly called a FIX API or (Financial Information eXchange) and it's the same industry standard technology that has been used to power the NASDAQ for 25+ years.
It's a proven solution to an unbelievably frustrating problem that many current institutions and investors face. It's basic access to every market and asset from a universal single point. It sounds simple, but it will radically improve our ability to trade.
We're going to be able to aggregate all of the market data and send orders to all these exchanges using one interface. We're basically going to become the on ramp for large institutions to easily access markets through a technology that is both familiar and proven.
At XTRADE.io we pride ourselves on taking a pragmatic approach. We're not here to build an AI/VR insert "buzzword" company or coin. We're looking to apply our entire career of industry experience as active investors in order to solve pressing problems with proven technology that has worked for the biggest financial institutions in the world.
Once we fulfill our promise of connecting these exchanges, we will soon launch a proprietary standalone application called Xtrade Pro.
This application will mimic the technology traders use daily with basic clearing, execution, market data, API connections, collocation, high-frequency, security, access etc. Right now, you don't even have stop orders on some exchanges! It's just crazy. We're building the tools to solve that.
I hope you enjoy the rest of this interview and feel free to reach out to me or the XTRADE team on LinkedIn.
Our private presale is currently underway. We will be announcing our public TGE soon.
We look forward to hearing from you!
All the very best,
Join the XTRADE.io community at https://t.me/xtradecommunity