BitMax.io (BTMX.io) Highlights Crypto Industry in 2019

Published January 1, 2020 | Updated January 1, 2020

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BitMax.io (BTMX.io) Highlights Crypto Industry in 2019

In the past year, BitMax.io, a Singapore registered trading platform, has grown rapidly alongside the blockchain ecosystem. It has successfully established itself as an emerging industry leader and captured market share from larger incumbent platforms by exemplifying a client-centric team spirit, delivering innovative products, and optimizing system architecture. The platform has achieved remarkable progress in the past year. Some key milestones from 2019 are as follows:

January:

  • Introduced Airdrop Multiple Cards for platform users with 3x standard airdrop rewards associated with select project listing activities.

February:

  • Launched an innovative margin trading with key differentiations: cross-asset collateral for funding flexibility, borrow & repay directly through trading, and 0% interest on margin borrow with 8-hour repayment for potential higher profitability. Since the launch, margin trading coverage has expanded for a broad range of assets including ALGO, CKB, ATOM, MATIC, ONE, XTZ, LINK, and BTT as well as many popular platform tokens, and stablecoins.

March:

  • Conducted first auction on the platform to purchase BOLT at a discounted price.
  • Implemented accelerated BTMX release function for private sale participants.
  • Enabled BTMX margin trading under the trading pairs of BTMX/USDT and BTMX/BTC.

April:

  • Announced support of BNB mainnet swap.
  • Upgraded BTC wallet system with new deposit address.
  • Optimized margin trading functionality and adjusted BTMX max leverage for margin trading.

May:

  • Strengthened global management bench with Shane Molidor joining as Global Head of Business Development to further drive and catalyze institutional market penetration.
  • Hosted the world’s first Global Digital Impact Night in New York City with over 200 participants including top-tier investors, project teams, industry influencers, journalists, and community members / leaders.
  • Announced permanent lock-up of three billion BTMX tokens.
  • Enabled trading for private sale portion of BTMX (BTMXP) under the trading pairs of BTMXP/USDT and BTMXP/BTC.

June:

  • Introduced industry-first Volatility Cards to predict short-term price movements on various digital assets. The design of volatility cards is derived from traditional Wall Street volatility products with quasi-option structures.

August:

  • Announced a strategic partnership with UltrAlpha, a professional digital asset management service platform and launched a new blockchain-focused incubator fund, B-Tech, to drive expansion beyond transaction facilitation and further round up the BitMax.io comprehensive ecosystem.

September:

  • Discontinued Transaction Mining & Reverse-Mining modes and successfully transitioned into the next phase of business expansion and platform growth.

October:

  • Hosted BitMax.io’s one-year anniversary ceremony.
  • Launched BTMX investment product.
  • Implemented a new tiered VIP Fee & Rebate structure for enhanced trading efficiency on the platform. The new structure allows users to receive up to a 2.5 bps (0.025%) rebate for providing liquidity on the platform (“maker) while charging as little as a 1.5 bps (0.015%) fee for taking liquidity (“taker).

November:

  • Announced strategic investment in ChainDream to support the blockchain education.
  • io’s Canadian business entity received approval from Canadian regulatory agency FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) for its application for Money Services Business (“MSB”) license. This indicates BitMax.io’s keen focus on compliance in the critical North American demographic.
  • Partnered with Prime Trust, US regulated trust entity, to offer over-the-counter (“OTC”) trading solution for users to execute large fiat-to-digital asset transactions through Prime Trust platform.
  • Introduced a credit/debit card payment offering through a partnership with Simplex.

December:

  • Completed system testing of new derivatives platform with initial offering of perpetual contracts to expand BitMax.io’s trading products from cash and margin trading to more sophisticated leveraged trading.

Currently, BitMax.io supports margin trading for 46 assets and offers spot trading across 191 trading pairs. The platform has over 500,000 registered users across the globe with an average daily trade volume in excess of $70 million.

With the new year around corner, BitMax.io states that it will continue executing on its strategic vision in building an institutional-grade financial platform with an innovative suite of trading products and best-in-class client services. Here’s a high-level preview of  BitMax.io’s 2020 strategic plan:

Comprehensive Product Offering:

Launch of staking & validation services, derivatives trading, and other value-added offerings to expand current spot and margin trading.

Improvement of OTC Services:

Enhancement of over-the-counter (“OTC”) trading services with personalized customer support, tighter spreads, and more efficient settlement process for a seamless fiat on-ramp experience for global users.

Institutional Client Acquisition:

Accelerate institutional client penetration and onboarding for greater marketplace efficiency with deeper liquidity and tighter spreads from a globally diverse range of trading counterparties.

Relentless Global Compliance Effort:

Continue implementation of its  global compliance program with strong risk-control mindset and stay current close eye on the ongoing evolvement and development of global regulatory framework in preparation of new market entry.

Continued Strategic Collaboration:

Form strategic partnerships with more existing and emerging industry players to further expand the BitMax.io ecosystem on a global scale.

In 2019, BitMax.io laid down a solid foundation and built a sustainable path for growth.  The platform will continue putting clients first and driving innovation to maximize market penetration. At the moment, the market appears quite optimistic and enthusiastic about what the future holds for BitMax.io.

Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
I am an associate content producer for the news section of Coingape. I have previously worked as a freelancer for numerous sites and have covered a dynamic range of topics from sports, finance to economics and politics.

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Casper Brown 374 Articles
I am an associate content producer for the news section of Coingape. I have previously worked as a freelancer for numerous sites and have covered a dynamic range of topics from sports, finance to economics and politics.
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