Blockstream, Sevenlabs and Poseidon Group Join Hands to Launch Decentralized Bitcoin Exchange
XDEX, the first decentralized security token exchange for Bitcoin and security assets in Switzerland has been launched by Poseidon Group in collaboration with Blockstream and Sevenlabs, which is provider of bitcoin infrastructure services.
By supporting assets from the Bitcoin ecosystem and enabling peer-to-peer trade, including bitcoin, stablecoins, and other bitcoin-related assets such as Liquid, a second-tier application that extends bitcoin, the exchange XDEX, will effectively cut out middlemen from the transaction.
The Liquid Network, a layer-two application used to scale Bitcoin, will be accessible through Blockstream, allowing the exchange of assets like bitcoin, euro, franc stablecoins, and other liquid-based assets. Users will be able to exchange Blockstream Mining Notes and the equity token Infinite Fleet once the platform launches, which is anticipated to happen in Q4 2022.
The open source TDEX protocol is being used to build the exchange XDEX, which will run continuously. In Q4 2022, the app is anticipated to go live on iOS and Android.
Additionally, Blockstream will make the Blockstream AMP available to users, allowing them to manage programmable assets on the Liquid Network.
Users will also have constant, transparent access to XDEX due to the joint venture's adoption of the TDEX open source protocol, which Sevenlabs will regulate. XDEX will first be available as a mobile application for Android and iOS, but the company eventually plans to build a web-based platform that will probably support more assets.
By combining the Blockstream Asset Management Platform AMP, the decentralized protocol of TDEX, and the speed and confidentiality of Liquid, XDEX creates a complete stack of Bitcoin technology that can be used to reform and disintermediate conventional capital markets.
Co-founder Adam Back is the leader of Blockstream, a blockchain technology firm with offices and personnel all around the world with a base in Victoria, Canada. For the transfer and storage of Bitcoin and other digital assets, the company creates a variety of goods and services. The South African and Sub-Saharan markets are served by the specialized electronics reseller and systems integrator Seven Labs. According to rumors, the group will eventually create a Web3.0 platform to support additional digital content.
CBW - External Analyst