The Infinite Exchange begins its final phase of pre-launch testing.
Infinite Tech Global Limited is currently working on obtaining an Offshore Cryptocurrency Exchange License for the Infinite Exchange from The Philippines’ Cagayan Economic Zone Authority (CEZA).
The highly anticipated launch of Infinite Tech Global Limited’s digital asset exchange, the Infinite Exchange, took a major step forward, on schedule no less, with the company announcing that pre-launch testing of the exchange has entered its final phase this week.
Tests that will be carried out in the final phase of pre-launch testing will involve User Registration processes, internal testing, external security audits and tests of the exchange’s trading functions.
While the Infinite Exchange’s final phase of pre-launch tests are well underway, Infinite Tech Global is simultaneously working on obtaining an Offshore Cryptocurrency Exchange License issued by The Philippines’ Cagayan Economic Zone Authority (CEZA), a government-owned corporation established via Republic Act 7922 (Special Economic Zone Act) to manage the Cagayan Economic Zone. CEZA’s President holds the rank of a Secretary and is a Cabinet Official reporting directly to the President of the Republic of the Philippines.
The Offshore Cryptocurrency Exchange License also known as the Financial Technology Solutions and Offshore Virtual Currency License (FTSOVC License), would allow the Infinite Exchange to set up and run its business in the Philippines.
Additionally, Infinite Tech Global Limited is also in the preliminary process to secure a separate license from Bangko Sentral ng Pilipinas (BSP), the Central Bank of the Philippine, which would enable facilitation of crypto to fiat transactions legally.
The Infinite Exchange will ultimately serve as a one-stop digital asset trading platform for its users to buy, sell and trade digital assets including major cryptocurrencies such as Bitcoin, Ethereum and the ITTx Token, the Infinite Exchange’s native token. The exchange will also provide interoperability with financial accounts, allowing users to conduct crypto to fiat trading using a multitude of mainstream fiat currencies such as the US Dollar, Euro and Japanese Yen, providing businesses and individuals with the flexibility to issue, trade, and settle any type of digital asset and asset pair.
Users of the Infinite Exchange will also stand to enjoy significant cost savings when using the exchange’s native token, the ITTx token to pay for transaction and other relevant administrative fees.
With much of the Infinite Exchange’s infrastructure being cloud-deployed, it effectively addresses a number of limitations of current exchange technologies.
It is expected that final phase of pre-launch testing for the Infinite Exchange will be completed in late November 2020 and the Beta version of the exchange will be launched for trials involving a select group of participants sometime in December.
Final version of the Infinite Exchange is expected to go fully operational early next year where holders of the ITTx tokens can expect to enjoy multiple benefits on the exchange chief of which include much lower trading fees.
Media contact
Company: Infinite Tech Global
Contact: Stephen Waterson
Email: [email protected]
Telephone: +86 19878087665
Website: https://www.infinite-tech.io
(Syndicated press content is neither written, edited or endorsed by ED Times)
Read more:
