Cryptocurrency exchange Bittrex announced the launch of a new digital trading platform on Monday, October 29. The platform, designed for qualified international customers will help in providing more token trading options and feature a streamlined token approval process as well. Previously named Bittrex Malta, the new platform will enter an evaluation period for the next few weeks to ensure that it is operating optimally.
The Key to International Business
The Bittrex International platform will rely heavily on its streamlined token approval process. The new listing process will accelerate token listings on the platform, which can now be completed in weeks, instead of months. The token teams will also work closely with the international exchange partners at Bittrex. This partner network will list current tokens on Bittrex.com as well as new tokens approved by the exchange if they are consistent with the regulatory environment they operate in.
Bill Shihara, Bittrex CEO reiterated his commitment to enriching the blockchain ecosystem saying:
“We are committed to being a driving force in the blockchain revolution by increasing adoption of this innovative technology around the world. Bittrex International’s more efficient token listing process, combined with our reliable, secure and advanced trading platform technology, will make it easy to quickly feature the newest, most innovative blockchain projects for our international partners and customers.”
He said that Bittrex International, just like Bittrex.com, will not charge a token listing fee as these projects need to invest their time and money into building their technology.
How New Tokens Will Get Listed?
The tokens will have to fill out an application form to be considered for listing. The initial review process which checks tokens for their quality, innovation, and authenticity will be the same as Bittrex’s standard procedure. Once the initial review is complete, the tokens will have to follow the guidelines set by the Malta Virtual Financial Assets Act. With the help of this act, the tokens will be listed more easily and quickly on the exchange. If the token team begins this process before they launch the project, the token could be listed immediately upon the blockchain going live.
During the evaluation period, all the existing and new international customers will be redirected to Bittrex International. The exchange will operate under the regulations of the European Union and the Maltese law, more specifically the Malta VFA Act. Bittrex International will work in the 12-month transitory period before becoming a regulated crypto exchange according to law.