Digital Financial Exchange (DIFX), a fully insured cross-asset exchange platform launched in 2020, secured an additional license from the European Union for virtual asset exchange and custody services. A milestone that allows DIFX to expand its services globally.
Jeetu Kataria, CEO, and Co-Founder of DIFX mentioned that this step goes in line with DIFX’s mission to become one of the leading platforms worldwide for cross-asset trading and added: “This is a major milestone that allows DIFX to grow globally and give accessibility to various communities all over the world. It also complements our goal, which focuses on boosting the global adoption of blockchain and cryptocurrencies. It’s worth mentioning that we’ve applied for an additional 6 global licenses which are under process.”
Being one of its core services, the platform brings crypto and traditional assets together in one consistent setting; there are numerous crypto pairs on DIFX Spot Exchange along with the DIFX MT5. This allows users to manage and trade more than 700 assets including international stocks, currencies, commodities, and over 100 crypto perpetual futures with leverage.
To tackle the security problems within the space, DIFX chose Fireblocks as its partner to help the platform provide its users with fully insured wallets to efficiently and surely secure their funds against hacks, bugs, and even internal fraud. In other words, the solution comes with a unique insurance policy that protects assets in both storage and transfer.
After integration DIFX Exchange has grown at an exponential rate of 10,900%+, increasing its assets under management from USD 5 million to USD 550 million within 6 months of operation. The platform is set to have a total of over 1000 assets that range from both traditional and digital markets.
In March, the exchange unveiled its nomination program, which intends to make digital asset management a very smooth and trouble-free system; by selecting up to 5 nominees, DIFX users can pass on their crypto assets to their families and loved ones.
With the upcoming merge of the DIFX platforms, users will be able to seamlessly trade these assets under one single roof. The added security of the fully insured wallets will also allow users to grow a diverse portfolio of assets and worry much less about the mitigation of risk.
“As part of its broader plan to expand its operations into new jurisdictions, DIFX aims to secure at least 10 new licenses by the end of this year. Considering the pace of its growth, the exchange believes it can increase its user base to more than 5 million by the end of 2023,” concluded Jeetu.