Isle of Man digital currency startup Crypto Next PLC unveils public beta global exchange platform at Inside Bitcoin Conference in Tel Aviv.
The Isle of Man is definitely taking the lead when it comes to cryptocurrency-related initiatives. Many experts are expecting the island to become a major player in the industry and overshadow hot spots such as Luxembourg and Singapore, notably due to the optimistic approach that has been taken by the Government towards digital currencies.
Last week, digital currency startup Crypto Next PLC announced its new product, the 'White Label Exchange,' at Inside Bitcoin Conference in Tel Aviv. The global currency platform has since gone into public beta in five different languages, with 10 fiat currencies and 10 local currencies - and promises more to come in the next few weeks, reads the official announcement.
The system aims to give 'White Label' customers the ability to "set up their own currency exchange in a matter of hours," select the currency pairings, languages and trading features, and "create a platform that is tailored to their own community." However, users are asked to submit due diligence documents in compliance with the Isle of Man regulations, noted the release.
During a speaking spot at the Inside Bitcoin Conference, co-founder Sharon Greenberg said "setting up a White Label Exchange will be as easy as registering a domain name."
According to CTO Asaf Azulay:
"In order for digital currencies such as Bitcoin to become mainstream, more people need to sign up for them. By facilitating the creation of user friendly exchanges, we aim to create a greater demand, in turn encouraging merchants to accept digital currency and completing the cycle of buying and selling."
Crypto Next PLC White Label services range from simple integration, to "all inclusive" packages, which include services like company registration, banking, web design, hosting services and exchange platform setup.
The company said it has received great traction from international organizations seeking an inexpensive, fast and simple solution, and has already signed with exchanges in Spain, the US and Greece. Crypto Next PLC is expecting at least 10 new White Label Exchanges going live by the end of the year.
Along with offering complete packages for digital currency exchange businesses, Crypto Next developed a cryptocurrency called the Crypto Next Coins (CXC). The company encourages the use of this mean of payment by making the coin available on the Crypto Next Exchange at a discounted rate until the end of October, and is offering additional services such as hosting and White Label Exchange integration.
Incorporated in June 2014 in the Isle of Man, Crypto Next PLC offers a range of digital currency centric products and services, which include the Crypto Next Exchange, the Crypto Next Wallet, the White Label Exchange, as well as merchant payment processing services.
Several startups have already launched with the similar goal of facilitating entrepreneurs in building digital currency exchange businesses. Notably, Venezuela welcomed its first Bitcoin exchange SurBitcoin, thanks to BlinkTrade, an open-source Bitcoin trading platform that enables anyone to create an exchange, in return of a 0.6% transaction fee. Two other exchanges have already signed up with BlinkTrade's partnership program, including Pakistan's first Bitcoin exchange Urbudit.
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