Bitfinex, cryptocurrency trading platform headquartered in Hong Kong, currently ranked fifth largest per CoinMarketCap. The exchange unveiled a hybrid Ethereum-based exchange project, called Ethfinex. The Ethereum-based portal offers instant trading of over 57 Ethereum-based tokens that don’t rely on a centralized third-party. Ethfinex is an on-chain platform that aims to remove the risks associated with centralized exchanges.
According to Will Harborne, Director of Operations of Ethfinex, the new on-chain platform Ethfinex aims to address issues surrounding centralized exchanges:
“Through removing the array of concerns associated with current centralised entities, Ethfinex aims to power a new era of digital asset trading which prioritizes the control individuals have on the security, privacy, and liquidity of their trading experience. We are dedicated to showcasing the power of decentralised and trustless trading solutions as this exciting journey continues.”
The Ethfinex team has finished a long testing period, to create a ‘trustless trading experience’ to place security, privacy and control in the hands of the community.
Will Harborne stated:
“Today represents the culmination of a prolonged phase of hard work and dedication fueled by our vision for a decentralized, community-governed trading platform. We are beyond excited to leverage Ethereum to deliver a sophisticated, trustless trading experience to users worldwide and to further extend the boundaries of decentralized exchange.”
Bitfinex handles over $317 million a day, and their hybrid platform is already seeing a daily trading volume of $70 million.