Priyeshu Garg · 1 hour ago · 2 min read
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SIBEX, the Swiss-based decentralized OTC Dark Pool just executed the first seven-figure trade on its platform. SIBEX is increasing traction and volume from OTC traders all around the world since the platform went live in late April.
Established in January 2019 and backed by financial industry heavyweights, SIBEX is the world’s first global and fully regulated OTC (Over the Counter) marketplace. Based in Zug Switzerland and Hong Kong, SIBEX is the first complete peer-to-peer decentralized OTC marketplace allowing users to trade cryptocurrencies with no third party involvement.
The company is solving inefficiency in OTC markets, including liquidity issues, high fees and delays, as well as front-running. The decentralized approach allows SIBEX to operate globally and bridge regional liquidity clusters.
The Swiss start-up received the legal green light in January 2020 from the Swiss Financial Market Supervisory Authority, FINMA. As such, SIBEX is one of the world’s first decentralized protocols to be regulated and authorized to act as a financial intermediary in such an important financial hub as Switzerland.
Today, OTC trades are largely executed and settled by a handful of regional brokers and exchanges in a very non-transparent way. This adds fees, risk, and makes markets more inefficient. SIBEX technology removes all intermediaries between traders and enables them to execute, settle, and clear their trades directly on-chain.
The company is proving that peer-to-peer transactions are the future of trading. The non-custodial dark pools solve the issues in the current cryptocurrency OTC market. Even malicious intent issues such as front-running are eliminated as the trades are executed directly without unnecessary counterparts.
SIBEX technology relies on cross-chain atomic SWAPS to enable users to settle directly peer-to-peer between blockchains. This component is important as the settlement mechanics go through Hashed Timelock Smart Contracts (HTLC) to protect both trade counterparts from front-trading and double-pending.
Every SIBEX user has their own personal trading server on Amazon Web Services (AWS). The server is continuously synchronized with the underlying blockchains to secure and guarantee trade execution 24/7. The assets, private keys, information, and the data stored on the users AWS trading servers are only available to the user’s sole discretion and guarantees full privacy, security, and the decentralization of trade settlements.
For more information, visit sibex.io
Disclosure: This is a sponsored post brought to you by SIBEX.