DAEX is pleased to announce that SEADEX, a Thai cryptocurrency exchange, will be the first official exchange customer of the DAEX Wallet. As an important part of DAEX’s global ecosystem, SEADEX is helping DAEX expand its customer-base in the Thai cryptocurrency market. In exchange, DAEX will provide technical and financial support to SEADEX, creating a mutually beneficial partnership. This will include consulting services, development of the SEADEX trading software, and use of the DAEX Wallet, which will allow SEADAX to use DAX tokens for clearing and custody fees on their platform.
On September 6, 2018, SEADEX received approval for a business license from the Securities and Exchange Commission (SEC) of Thailand. With the exchange now approved to operate legally within the country, DAEX will be able to take advantage of the government support as well as the exchange’s current extensive local user-base—which is expected to grow after the SEC approval. SEADEX are the first exchange in Thailand to offer fiat to crypto trading, and will provide more trading functionalities in the near future after receiving support from DAEX.
After SEADEX, the DAEX Wallet is set to be online for other partner exchanges this month. With the aim of providing comprehensive digital asset clearing and settlement solutions to exchanges, organizations and individuals, the DAEX Wallet is essentially the gateway to DAEX’s clearing ecosystem. Through the use of a public clearing chain, the clearing of all transactions made with the wallet is facilitated in an open and transparent way. The DAEX Wallet is also able to store multiple cryptocurrencies. It supports the storage and trading of most major cryptocurrencies across exchanges and across public chains. After an exchange switches over to using the DAEX Wallet, users can quickly and easily connect to the exchange using their own wallet accounts. Deposits and withdrawals are completed through the underlying protocol of the exchange, allowing the exchange to complete these operations more quickly and thus improving the overall user experience.
DAEX has already expanded into numerous important markets, including Russia, Australia and various Asian countries. In the next year, the company aims to serve 10,000 corporate customers with the DAEX Wallet, including exchanges and funds. DAEX will also work with more than 60 investment organizations around the globe to build a new ecosystem for trading and clearing. Finally, the company aims to cooperate with 10 or more exchanges to whom they will provide services including technical support, DAX clearing tokens and investment.