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The following is an article written through a Benzinga content partner
One of the most demanding situations facing the blockchain industry lately is the difficulty of locating reliable crypto on / off ramps around the world. Although cryptocurrency trading is fast and relatively simple, it is not easy to convert it into a local currency. This is true even in the United States, Europe, and Asia, where only a handful of exchanges each offer direct help for banking transactions.
A startup, XanPool, will solve this challenge and help close the gap between classic banking and cryptographic banking by offering a comprehensive omnichannel solution to make the cryptography onboarding and exit procedure much easier to use and resilient. opposed to addiction to single channels. They do this by integrating retailers, institutions and fiduciary and cryptographic liquidity providers into the XanPool network.
XanPool CEO Jeffery Liu has been active in the industry since 2013 and has noticed that the industry is evolving and growing where it is today. Despite the progress that has been made, Liu has not noticed any major improvements in the way users buy, sell and exchange cryptocurrencies. with fiddria coins, a major challenge that eventually led him to discover XanPool and locate a direct solution with Asia as his main goal.
“Simply put, XanPool is local Plaid and Bitcoins,” Liu said. “We have incorporated integrations into the local banking and payments infrastructure so that users can automatically perform peer-to-peer (P2P) transactions. This means that clients transact directly with others, while our software ensures that either party gets their assets instantly. There is no custody threat in this style compared to classic exchanges. “
XanPool recently finished updating its new liquidity portal, which Liu says is a product the market has been waiting for a long time.
“The XanPool liquidity portal is a product built on our fiat P2P gateway. It requires XanPool to be integrated into an express inventory exchange, DEX, or liquidity pool (such as Uniswap). This will allow our existing users to buy and sell tokens. compatible through Participants of the P2P counterpart and to buy and sell one of the supported portions through the express exchange, directly in their own local currency ”.
The liquidity portal aims at a well-known challenge in Asia. “Buying altcoins that are not the five most sensible cryptocurrencies in a local currency in Asia is very inconvenient,” Liu said. “Usually the user has to buy Bitcoin first, then move the Bitcoin to an express exchange or DEX, then buy an alternative currency with Bitcoin. This procedure is valid even in Hong Kong, a leading global monetary center. In emerging markets, the procedure would be even more complex and cost-effective. Our liquidity portal allows anyone in any of the regions where we directly acquire five non-sensitive altcoins, directly with their local currency. Once they want to sell, they can sell that altcoin directly in their local currency. “
XanPool is currently located in Hong Kong, Malaysia, Vietnam, Philippines, Thailand, Singapore, Indonesia and India. “By the end of the year, we also targeted Pakistan, Bangladesh, Russia, Korea, Australia and New Zealand. This includes our “custodian trust gateway, as well as our liquidity portal,” Liu added.
Liu believes that the long-term of cryptography lies in the elimination of counterparties, so he is incredibly excited by the recent expansion of DEX (decentralized exchanges).
“Once someone already owns a cryptocurrency and only needs one industry in the field of cryptocurrencies, they deserve not to have to integrate into a centralized exchange dealing with the dangers of knowledge violation, custody hazards and lack of transparency. Cryptocurrency trading with cryptography is inevitable,” Liu said. We will continue to build, study and implement a new generation of anti-fragile trust gateway in the industry, in fact achieving the purpose of why Bitcoin and cryptocurrencies were invented, i. e. the relief of monetary intermediaries.
Image courtesy of XanPool
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