BlockQuake™ today announced the official launch of its regulatory-driven digital asset exchange. The BlockQuake™ Exchange, which is now accessible worldwide, aims to set the industry gold standard in global regulatory compliance and security for digital asset trading platforms. Created by a team with over 100 years of collective experience in blue-chip financial services, the BlockQuake™ Exchange sets itself apart by aiming to give users the security, transparency, and a variety of order options existing in trading in traditional financial markets.
“As more people than ever enter the cryptocurrency space, there is an increasing demand to address issues in security and choice that many traders face,” said Antonio Brasse, CEO and Co-Founder of BlockQuake™. “Using our team’s deep breadth of experience as traders in both cryptocurrency and traditional financial markets, we created a unique platform that gives anyone, from the first-time individual investor to a top-tier financial institution, a better trading experience and the ability to trade digital assets in a safe and regulated way.”
The BlockQuake™ Exchange aims to be a true “one-stop-shop” that eliminates the need for traders to open accounts across multiple platforms by soon permitting a wider variety of order types and currency options. Open to both institutions and individuals, the BlockQuake™ Exchange supports corporate entities, trusts, and retirement accounts.
Initially, the BlockQuake™ Exchange will offer USD and major cryptocurrencies and stable coins that include BTC, ETH, LTC, and USDT. BlockQuake™ plans to scale by continuously onboarding fiat currencies, cryptocurrencies, and stable coins to accommodate over 100 pairings within four months. Subsequent crypto additions include USDC, LINK, BCH, XLM, ETC, BAT, TUSD, and PAX, and fiat additions include CAD, EUR, GBP, AUD, and JPY.
Traders from around the globe can use their credit or debit cards, wire transfer, and ACH to deposit funds into the exchange, and the integration of Plaid further simplifies this process for US customers using ACH.
The BlockQuake™ Exchange is forward-thinking on domestic and international regulations. BlockQuake™ has applied for a New York State BitLicense and has registered with the Financial Crimes Enforcement Network (FinCEN), a requirement for the BitLicense and companies serving US Customers. It will also be pursuing SEC and CFTC registrations and licenses and is actively seeking to address compliance with FATCA, FATF, and other international regulations.
The BlockQuake™ Exchange has institutional-grade platform security which offers app-based 2FA for logins and mandates 2FA for withdrawals. The platform differentiates itself through its partnerships with companies that have extensive experience and expertise in their fields, making the exchange secure and allowing it to maintain a high level of self-regulation. Through qualified custodian Prime Trust, all users go through a rigorous verification process which includes a Know Your Customer (“KYC”) verification in compliance with banking and securities laws, Anti-Money Laundering (“AML”) checks on domestic and international persons in compliance with the PATRIOT Act and Treasury regulations.
BlockQuake uses Prime Trust to custody fiat deposits and the Fireblocks institutional-grade Hot Vault for crypto storage, which further reduces the risk of fraud and ensures user assets are protected. Chainalysis, the gold standard in transaction monitoring for cryptocurrency, provides real-time Know Your Transaction (“KYT”) monitoring, and Solidus Labs will proactively detect and investigate manipulation and compliance threats, allowing BlockQuake™ to ensure all trading activity on its platform is legitimate and maintain the integrity of its markets.
Friedman CyZen (“CyZen”) will employ automated and human safeguards to help protect BlockQuake™ Exchange from cyber risks, such as security breaches, by performing various services such as continual security log auditing, penetration tests, cybersecurity control, processing audits, and compliance consulting. BlockQuake™ recently passed a penetration test performed by CyZen which did not identify critical vulnerabilities or cybersecurity issues ripe for exploitation.
When trading on the BlockQuake™ Exchange, users will have access to various investor order types–including market, stop, limit, and time in force options. Every transaction is subject to a low flat trading fee of 0.2%. BlockQuake™ has engineered its matching engine to handle more than 10,000,000 transactions per second and has proactively planned to scale to accommodate peak trading volume and reduce downtime.
Secure Digital Markets (“SDM”) and Blockfills, both top global liquidity providers, will provide Global Liquidity to the BlockQuake™ Exchange upon launch. This partnership allows BlockQuake™ to scale while maintaining liquidity. BlockQuake™ traders receive consistent and accurate market prices and a single point-of-entry, combating disjointed liquidity and discrepancies in pricing data. Through these market making partnerships, BlockQuake will be able to handle any order size immediately.
About The BlockQuake™ Team
BlockQuake’s™ accomplished team includes internal and external subject matter experts in FinTech, regulatory finance, investment banking, blockchain, and risk management and a robust understanding of both the finance and crypto industries. Previously, they have worked for global financial organizations including AIG, Morgan Stanley, JP Morgan, Citi, Chase, BlackRock, BNP Paribas, and Barclays Capital and have provided services for top-tier clients including Nasdaq, Fidelity, TD Ameritrade, IBM, and Google. They now draw upon these decades of experience in financial services to deliver solutions that address trader frustrations in the current cryptocurrency landscape and create a better cryptocurrency trading experience. BlockQuake™ also offers its own token, QuakeCoin™, an ST-20 token built on the Polymath platform that will only be available on its exchange. Some trading restrictions for The BlockQuake Exchange™ may apply based on a trader’s jurisdiction of residence.