Today, December 17, 2018, representatives of BXA (Blockchain Exchange Alliance) and ONEROOT took to the stage at the BXA Press Conference in Shanghai. Among the speakers were BXA Co-CEOs Byung Gun Kim and Tony Sun. Sun is also the CEO of ONEROOT.
ONEROOT and BXA recently made the announcement that BXA would become the major institutional shareholder in ONEROOT, thus supporting the company’s development. Furthermore, ONEROOT gained shares in BXA creating a solid partnership. It is important to note that BXA controls BTC Korea, the parent company of Bithumb, the largest cryptocurrency exchange in South Korea.
Blockchain is still very much a developing technology. BXA and ONEROOT are well aware of this, and besides their technological partnership, they share the same goals around it. In fact, Tony Sun (Sun Yingjun) recently said, “Blockchain is still in its infancy, and the lack of infrastructure has impeded the development of digital economy. Since its inception, ONEROOT has been focusing on infrastructure construction and the promotion of blockchain technology application. It is the shared philosophy that helps the establishment of cooperation between BXA and ONEROOT.”
At the conference, the speakers discussed BXA’s partnership with ONEROOT and how the two companies will work together to break through high technological barriers and create fiat-to-crypto trading platforms with deeper order books and enhanced liquidity in a regulation-compliant way. In fact, BXA has obtained or is in the process of obtaining fiat currency gateways and compliance licenses from over ten countries and regions. Furthermore, they have already established 12 local entities worldwide (USA, Japan, UK, Canada, Australia, New Zealand, Singapore, South Korea, Hongkong, Thailand, Mexico, and Peru) to provide global financial services.
Paving the way for these services, ONEROOT has developed a full range of products over the last year, including distributed centralized exchanges (DCEX), distributed decentralized exchanges (DDEX), high-performance public chain (RNC), decentralized transaction protocol (R1), and Touch Wallet, which gained ONEROOT recognition from top partners in the industry. In 2018, the R1 protocol was implemented by Bithumb.io, allowing a decentralized exchange to serve millions of users for the very first time.
Chronic crypto nut and freelance writer/editor for longer than I care to remember. Have finally found a home here at Crypto Disrupt.