- AAX plans to partner with auction house to sell crypto gods.
- AAX supports Bitcoin adoption.
- AAX uses LSEG technology.
The crypto world continues to be recognized by countries and companies around the world. This time, AAX, a trading platform that offers a full suite of financial products and services to everyone in the crypto space has provided an update to its community.
In detail, the update focuses on outlining a forward-looking vision for driving the adoption of Bitcoin and the wider crypto market. In addition, the update reveals how the exchange is moving forward with an expansion plan that will enable it to support the accelerating adoption of crypto. Also, it continues to assess the environment for digital assets globally.
AAX’s growth strategy reflects its belief that the adoption of Bitcoin and other digital assets can help create opportunity and build fairer and more inclusive economies.
Ben Caselin, Head of Research and Strategy at AAX explained,
More than a technology or a new asset class, we see Bitcoin as a driver of change that proposes a different set of principles around ownership, agency, borderlessness and sound monetary policy. As an exchange, aside from offering a full suite of financial products and services, it also means we need to engage in public discourse and help shape the narrative around Bitcoin and the wider crypto markets.
We’re driving adoption by being part of the conversation about how changing concepts of money and value intersect with culture across areas including art, gaming, music, philosophy, and sports,” added Caselin. “This is how we believe a new paradigm can find its way to the masses. From artists to the unbanked, from savvy traders to overseas workers, the addressable market encompasses everyone.
The network is driven by its mission to be a catalyst for crypto adoption. It aims to make crypto more accessible to an estimated 96.1% of people around the world who do not have access to digital assets.
AAX opens its doors to opportunities around the world. In February 2021, AAX announced that its Singapore affiliate entity had been granted an exemption under the Payment Services Act by the Monetary Authority of Singapore (MAS). Furthermore, it is also exploring the opportunity to expand its operations to other regions such as Europe.
In terms of technology, AAX is powered by LSEG technology. This system made AAX the first crypto exchange to offer Bitcoin using the Satoshi Standard (SATS) this year. It also offers high-yield token-based savings products and fiat on- and off-ramps for 25 currencies.
We are passionate about the qualities of Bitcoin: permissionless, immutable, intrinsically scarce,” continued Ben Caselin. “But we also list a wide spectrum of tokens on AAX, giving investors the opportunity to express different views about the future of digital assets and learn about the asset class.
On the other hand, in the first quarter of 2022, the exchange will partner with an auction house to sell the ‘crypto gods’ NFTs showcased at the Hong Kong FinTech Week. As it has previously shared, AAX also has plans to launch an NFT marketplace.
Meanwhile, the CEO of AAX Thor Chan has stepped down. However, it will continue to support the exchange as a member of the board of directors.
I am honored to have been the CEO for AAX, which has achieved so much since our launch in November 2019,” said Thor. “We built a community of more than two million users in over 100 countries and became the world’s first cryptocurrency exchange to be powered by LSEG technology, as well as the first to make the switch to the Satoshi Standard (SATS) to drive the adoption of Bitcoin forward.
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