BlockQuake has announced its long-anticipated official launch. The crypto exchange has taken a regulatory compliance first approach learning from the early innovators to create a “gold standard” digital asset trading platform. BlockQuake states that it seeks to differentiate its service by aiming to give users the security, transparency, and a variety of order options existing in trading in traditional financial markets. BlockQuake says it has engineered its matching engine to handle more than 10,000,000 transactions per second.
Antonio Brasse, CEO and co-founder of BlockQuake, commented:
“As more people than ever enter the cryptocurrency space, there is an increasing demand to address issues in security and choice that many traders face. Using our team’s deep breadth of experience as traders in both cryptocurrency and traditional financial markets, we created a unique platform that gives anyone, from the first-time individual investor to a top-tier financial institution, a better trading experience and the ability to trade digital assets in a safe and regulated way.”
The BlockQuake Exchange wants to be a “one-stop-shop” that eliminates the need for traders to open accounts across multiple platforms. BlockQuake seeks to service both institutional money as well as individuals.
The company explains that initially, it will offer USD, major cryptocurrencies, and stablecoins including BTC, ETH, LTC, and USDT. BlockQuake says it plans to scale by continuously onboarding fiat currencies, cryptocurrencies, and stablecoins to accommodate over 100 pairings within four months.
Global traders may use their credit or debit cards, wire transfers, and ACH to deposit funds into the exchange. BlockQuake is using Plaid to further simplify the process.
BlockQuake has partnered with Prime Trust to ensure a rigorous verification process including Know Your Customer (KYC) verification in compliance with banking and securities laws, Anti-Money Laundering (AML) laws. Prime Trust is also providing custody for fiat deposits and Fireblocks is providing Hot Vault for crypto storage.
Chainalysis will provide ongoing transaction monitoring.
Friedman CyZen (CyZen) will incorporate automated and human safeguards to help protect BlockQuake from cyber risks, such as security breaches,
BlockQuake has applied for a New York State BitLicense and has registered with the Financial Crimes Enforcement Network (FinCEN), a requirement for the BitLicense and companies serving US Customers. The company will also be pursuing SEC and CFTC registrations and licenses and is actively seeking to address compliance with FATCA, FATF, and other international regulations.
The BlockQuake founding team includes over 100 years of collective experience in blue-chip financial services like AIG, Morgan Stanley, JP Morgan & Chase, Citi, BlackRock, BNP Paribas, and Barclays Capital.
BlockQuake also offers its own token, QuakeCoin (Ticker: QUAKE), an ST-20 token built on the Polymath platform that will only be available on its exchange.