Crypto Exchange Taps Into Nasdaq's Cloud-Based Technology For Trading Platform

Zinger Key Points
  • Brazil-based crypto exchange to use Nasdaq's cloud-based technology.
  • The platform's CEO says Brazil has immense potential to become a global crypto hub.
Crypto Exchange Taps Into Nasdaq's Cloud-Based Technology For Trading Platform

Cryptocurrency exchange, which is headquartered in Brazil, announced on Tuesday a technology partnership with Nasdaq, enabling individual and institutional investors worldwide to trade on the platform reliably and frictionlessly.

The cloud-based Nasdaq Marketplace Services Platform serves digital asset exchanges and cryptocurrency markets, for exchanges to draw liquidity and expand transaction volumes to match market circumstances.

Using this technology, exchanges can develop new features for their users.

Crypto Exchange to Offer Trading in 50-Plus Asset Classes

Besides Bitcoin BTC/USD, Ethereum ETH/USD and USD COIN USDC/USD trading being offered currently, the crypto exchange will extend trading in 50 other asset classes and coins by the end of the year.

The platform uses a Trade to Earn commission and fee structure, eliminating transaction fees and adding a financial incentive scheme through this newly established framework.

Customers will now receive Digitra tokens (DGTA) for each trade they execute.

Speaking with Benzinga, Digitra.crom CEO and founder Rodrigo Batista said Brazil has great potential to be one of the leaders in the global crypto landscape as Brazilians love to be early adopters of new technologies, and crypto is no exception.

“Some researchers have shown that Brazil is second in the level of crypto adoption. We believe that regulations will set new crypto use cases not only in Brazil, but worldwide, and the fact that Brazil has 200 million people and some of the most advanced financial markets innovations give Brazil an edge. Also, the Brazilian Central Bank is fostering innovation in the crypto space, and we plan to spread these innovations globally,” he said.

He further said by offering additional services on top of cryptocurrency spot trading, the company will create new revenue streams that replace the traditional transaction fees.

Tech Collaboration Gives Exchange a Robust Foundation to Grow

Crypto exchanges can go down when market volatility is high, with clients wondering if that happens because the technology of those exchanges is not good enough or because the exchange engines are turned off by their teams. Batista explained Nasdaq's platform creates a new level of trust. 

“Using the Nasdaq matching engine, we can assure clients that we have the best exchange technology in place for high volumes and that bad behavior is not on the table. None of us would take that risk. Furthermore, by using Nasdaq technology, we bring the highest governance that exists in trading to the crypto space," he said.

"Regarding we expect to create the most accessible crypto company globally and become the most significant in liquidity by balancing governance and ease of usage."

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Nasdaq Seeks to Create Seamless Trading Experience

Roland Chai, executive vice president and head of market platforms at Nasdaq, said as a technology partner to the capital markets and numerous emerging marketplaces worldwide, Nasdaq is focused on enabling frictionless and robust trading through its SaaS technology platform.

Chai added that Nasdaq’s infrastructure technology will enable to resiliently scale its platform and meet sophisticated performance requirements from its customers.

The Marketplace Services Platform is not Nasdaq's first venture into the cryptocurrency space.

With the help of clients including Chain, Change Tip, PeerNova, Synack, Tango and Vera, the business introduced its blockchain-based platform, Nasdaq Linq, in 2015.

Photo: token image via site

Posted In: brazilcrypto exchangeNASDAQCryptocurrencyNewsGlobalMarkets

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