AAX rolls out new suite of products to meet growing demand for ‘alternative’ crypto solutions
AAX, the digital asset exchange powered by LSEG Technology, rolls out a suite of products opening up new opportunities to invest, trade, and manage wealth.
Doubling its user base in just over a month, AAX is fast becoming a hub for a wide range of financial activities, from trade and payments to earning and saving cryptocurrency. This month the exchange announces the following updates for August:
- New spot listings: DeFi
To meet the growing demand for innovative DeFi tokens, AAX has opened up 6 new markets for Compound (COMP), Bancor Network Token (BNT), and Aave (LEND), which can be traded against Bitcoin (BTC) and USDT.
- Futures trading
New USDT-settled perpetual contracts are on offer for Ethereum (ETH), ChainLink (LINK), COMP, and Bitcoin Cash (BCH). This enables users to earn, irrespective of whether it is a bear or a bull market.
- Rewards hub
AAX is now launching AAX Grand Stadium, a rewards hub where users can win prizes and earn crypto rewards for completing simple tasks.
With global negative interest rates in force, demand has been on the rise for both decentralized and crypto-based savings solutions. Now, in addition to AAB Plus, AAX Vault also offers high yield savings products for BTC and ETH, with competitive daily interest rates.
- Call for OTC merchants
With support for 20+ fiat-to-crypto gateways, AAX is calling for more crypto merchants to set up shop on its over-the-counter platform. Until August 31, 2020, there will be no charge on merchant applications.
“The crypto space is moving very fast now. Interest in the wider space beyond Bitcoin and trading is gathering pace with increased demand for savings products and other tools to optimize crypto wealth management,” said AAX’s CEO, Thor Chan.
“We see this expressed in the DeFi-space, but similarly, high-caliber centralized exchanges are also building out their ecosystems in response to a growing demand for alternative, crypto-based financial service solutions. We’ve now adopted a very aggressive innovation strategy, with rapid expansion on all frontiers, and we expect to accelerate this work over the coming few months.”
AAX is best known for its unique usage of the same matching engine that is run by the London Stock Exchange. The exchange is well-connected with the institutional space but caters to retail audiences specifically by offering the lowest trading fees globally and providing a user-friendly trading app. The exchange lists 25+ spot pairs and perpetual contracts major crypto assets, with new listings every month.
AAX has also issued its native exchange token, AAB, which raised over $9 million USD in three days. The exchange offers lucrative referral programs, competitive crypto savings products, and with support for 20+ fiat currencies has made it easy to convert cash to crypto, and back.
Disclaimer: This is a paid post and should not be considered as news/advice.