IronFX and EmurgoHK have announced that they are intending to launch their regulated exchange as a seamless bridge between crypto and traditional online trading. The new destination, called IronX, will operate as a regulated, service-focused exchange, creating a highly efficient trading ecosystem that facilitates funding via both FIAT and Crypto. Against the successful ongoing private IRX Token sale, IronX is aiming to launch as early as Q4 2018 and is pursuing regulation under Gibraltar’s purpose-built regulatory framework for Distributed Ledger Technology with Isolas LLP law firm.
IronFX, a global online broker, with a customer base of more than 1.2 million online trading accounts, has partnered with EmurgoHK, the creator of the Cardano Blockchain and the ADA Coin. The two believe the new IronX Exchange will provide safe and easy access to the mass retail online trading market via a common trading portal where holders of the IRX token can participate in both crypto and traditional trading.
The Joint Venture was formed to build on the IronFX Group’s track record and resources with an existing global customer base, access to the retail market, financial liquidity, multi-jurisdictional licensing (FCA in the UK, CySEC in Cyprus, ASIC in Australia and FSCA in South Africa) and real and long-standing expertise in running complex, multi-jurisdictional operations. IronX will leverage upon the IronFX Group’s back-office, best-of-class banking, payment solutions, client-oriented features and efficient customer service to create an optimal exchange with ease of operation for new and experienced traders alike.
At the same time, IronFX and IronX intend to create a unified trading platform where participants in the IronX Exchange ecosystem will have the ability to use their crypto accounts to move positions into margin trading at the already regulated IronFX and vice versa.
EmurgoHK Group is the developer of the well-known Cardano Blockchain and the ADA Coin, which has been reported as being the ninth-largest coin in the world by market cap. EmurgoHK will provide liquidity from the outset by listing their hugely successful ADA Coin on IronX. EmurgoHK’s co-founder, Kenji Sasaki, Chairman of IronX’s Advisory Board, brings his deep knowledge of Blockchain technology and cryptocurrency to the project.
IronX Exchange plans to utilize its native token, IRX, as the main coin for the platform. Fees paid in IRX tokens will carry a substantial discount on the exchange, incentivizing frequent traders to use IRX for all fees and transactions. IRX token holders will be able to explore additional benefits among the other group’s companies, such as discounted fees, higher leverage, trading bonuses, VIP account status, personal customer support service and more.
In a statement, Markos A. Kashiouris, Chairman, and CEO of the IronFX Group said:
We are delighted with the success of our private token sale amidst difficult market conditions. This reinforces the need we recognized for a regulated and service-focused exchange to facilitate trading via both FIAT and cryptocurrencies in a seamless trading ecosystem combining crypto and traditional online trading. With this Joint Venture, the IronFX Group will provide access to the mass retail market through its deep order book, customer-centric approach and ready-made connection to existing exchanges and liquidity providers.
Kenji Sasaki, Co-Founder of Cardano and Corporate Officer of EmurgoHK, commented:
The IronX Exchange is a very exciting Joint Venture for the EmurgoHK Group to bring in a new era of Crypto Exchanges with the IronFX Group. Our partnership with this major global force in online trading, combined with our in-depth understanding of blockchain technology and the global crypto-community, will address the key issues being faced by crypto investors and traders at the moment. At the same time, this is an excellent opportunity to list ADA Coin on a leading regulated exchange.
The IronX Exchange is in its license application process and is targeting a priority opening for VIP IRX token holders to its beta version prior to its official launch to the public.