Blockstream Partners with Sevenlabs and Poseidon Group to Launch Decentralized Bitcoin Exchange
Cryptocurrency infrastructure service providers Blockstream, Sevenlabs, and Poseidon Group have partnered to launch XDEX, a decentralized exchange for bitcoin and securities assets, in Switzerland, according to Nasdaq.
The exchange will support peer-to-peer trading within the cryptocurrency ecosystem, including bitcoin, stablecoins, and other bitcoin-related assets such as Liquid, a second-tier application that extends bitcoin.
Users can access assets on the Liquid Network to trade bitcoin, euro, and Swiss franc stablecoins, as well as other liquidity-based assets.
XDEX is built on the open-source protocol TDEX and provides 24/7 services.
Blockstream is a blockchain technology company led by co-founder Adam Back, headquartered in Victoria, Canada, with offices and staff worldwide. The company develops a range of products and services for the storage and transfer of Bitcoin and other digital assets.
Blockstream CEO Adam Back said that
"By leveraging the Blockstream Asset Management Platform AMP, TDEX's decentralized protocol, and Liquid's Confidential Transactions and speed, XDEX form a full stack of Bitcoin technology that is a blueprint for future securities exchanges and leads to the further reformation of the traditional capital markets and disintermediation ."
Seven Labs is a specialist electronics distributor and systems integrator for the South African and Sub-Saharan markets.
The app is expected to launch on iOS and Android in the fourth quarter of 2022.
It is reported that the team will also develop a Web3.0 platform in the future to support more digital assets.
Image source: Shutterstock
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