Subscription-Based Crypto Exchange Hits 500,000 Pre-Registered Users

A cryptocurrency exchange that operates on a subscription-based fee model says that more than 500,000 traders have pre-registered to join its platform, which will not launch until next month.

While most cryptocurrency trading platforms charge a percentage fee on every trade, DX.Exchange charges most traders a flat 10 EUR monthly fee, after which they can trade up to 50,000 EUR for “free” during the billing period. Traders who exceed this limit will be charged percentage fees.

The exchange, which is based out of Estonia and holds two licenses from the country’s ministry of economic affairs and communications, claims that it has formed a partnership with multinational stock exchange giant Nasdaq to use the latter’s matching engine to arrange trades. Nasdaq did not immediately respond to a request for confirmation.

Nevertheless, the move would not be unprecedented. Nasdaq has said that it is licensing its tech to a handful of cryptocurrency exchanges, including Gemini, which uses its surveillance technology to prevent traders from engaging in market manipulation and other illegal activities.

DX said that this partnership, along with the company’s regulatory licensure, has helped the platform attract interest from institutional traders and brokers…

Read Full: Subscription-Based Crypto Exchange Hits 500,000 Pre-Registered Users