Beaxy has launched a cryptocurrency exchange that attempts to leverage customization and efficiency features usually only found in traditional market offerings.
Forging Strategic Partnerships
Beaxy announced that it has partnered with OneMarketData, a leading provider of software solutions for the financial sector. Its trading technology powers some of the world’s largest stock markets and trading firms.
“Our partnership with OneMarketData helps us process transactions faster,” Beaxy CEO Artak Hamazaspyan told Bitcoin Magazine. “They power some of the largest stock markets in the world. NASDAQ can process 225,000 transactions per second. Our integration with their technology means Beaxy can process as much as 250,000 transactions per second.”
Why would a new crypto exchange like Beaxy require so much processing speed or a high-profile partner? For Beaxy, providing traders with a scalable, seamless trading functionality that has fully compliant security measures was crucial.
With OneMarketData, it can significantly minimize costs and run on a high-end matching engine recognized by institutional partners. According to Hamazaspyan, OneMarketData’s tech is hosted in the cloud, optimizing costs and scalability as it grows beyond its current capacity.
Slow but Steady Development
Beaxy was founded in 2017 by Hamazaspyan and CTO Mittal Patel. The duo have taken the platform from its humble beginnings to a robust workforce of 25 full-time employees, with a development team in Armenia.
Fresh off of an $8 million funding round raised in the bear market, Beaxy is on a mission to “bridge the gap between cryptocurrency enthusiasts and part-time speculators, to retail and institutional investors,” per a press release[1] on the integration. The secured funding will now be used for U.S.-focused expansion, as well as integrating fiat deposits and withdrawals into its platform.
“Our implementation of OneMarketData’s OneTick
