Isle of Man-incorporated Bitcoin startup Crypto Next, announces it has signed up 10 digital currency exchanges in only one month after public beta launch of its white label exchange platform. The company hopes to have as much as 50 exchanges live by the end of Q1 2015, says CEO Sharon Greenberg.
Launched on October 19, at the Inside Bitcoins Conference in Tel Aviv, Crypto Next's public beta white label exchange platform was introduced as a transparent and easy method for building a digital currency exchange business in just a matter of hours.
Talking to Cointelegraph, CEO Sharon Greenberg said:
"When we launched the white label platform, we aimed to have ten exchanges live by the end of the year. We are pleased that we passed our target for the year already and now hope to have 50 exchanges live by the end of Q1 2015."
In fact, the company announced last week it had already reached its goal, and signed up 10 exchanges, which include:
Greenberg noted they've been quite surprised to see the diversity in the types of exchanges that have been launched on their platform. He stated:
"We have signed up everything from organisations wanting to bring back pre-Euro coins via digital currencies, to companies focusing on Bitcoin ATMs."
Among the numerous digital currency centric products and services, the white label exchange is definitely the most successful product, said the CEO.
Similar services such as BlinkTrade and VBBB.com, have been emerging in the ecosystem with the same goal of making the digital currency exchange business accessible to the wider community. But according to Greenberg, Crypto Next's white label platform has an exclusive feature that overshadows its competitors:
"We are the only company in the world offering an exchange package that includes banking facilities and a legal structure."
Incorporated in the Isle of Man, Greenberg said they made this strategic decision because of the "government's friendly stance towards digital currency companies."
The island has been taking a rather friendly position towards cryptos, and it is widely believed that the country offers many competitive advantages over typical hot spots such as Luxembourg and Singapore.
Finally, Greenberg said his company was currently focusing on adding quicker and cheaper deposit and withdrawal options, so clients won't have "to pay the expensive exchange fees or arbitrage fees that people are paying now." Additional services such as merchant payment tools and mobile apps are also expected to come out very soon.
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