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It would seem that technology entrepreneurs such as James Ju are not discouraged by the current state of the cryptocurrency market, so much so that it has brought together a group of investors to finance its latest venture to open an exchange. cryptographic.
Ju, who held the position of technical director at Huobi, recently announced that he would launch a cryptocurrency exchange by the end of the year. The exchange, which will be called BHEX, has raised $ 15 million in equity from a wide range of institutions (such as OKEx and Huobi, Ju's former employers). The stock market also held a symbolic round, which attracted top-notch funds including DHVC, Dfund, BlockVC and Genesis Capital.
According to his press release, the founding members of the BHEX crypto-trading platform bring extensive experience of "leading financial and technology companies" including Google, Alibaba and others.
Ju explained that Blue Helix technology would be open source once development is complete. With this technology, BHEX will be able to create a Managed Management and Clearance System.
BHEX is being touted as a next-generation digital badet trading platform, which would be powered by the decentralized technology of badet retention and clearing developed by Blue Helix, a company also under control. The stock exchange is establishing offices in Singapore, the United Kingdom and the United States.
The digital badet platform will offer crypto to crypto trading, as well as OTC options and currency pairs. An encryption option of Fiat in yuan (CNY) will be available, which is considered a major advantage for Chinese cryptography enthusiasts who are banned from trading within their country's borders.
A former executive at Huobi, Ju has been instrumental in overhauling and upgrading Huobi's cryptography system, simplifying processes and making it easier for traders to use, pushing the stock market to the world's largest stock exchange. , in volume. Upon leaving Huobi, Ju was hired as vice president of technology at X Financial, a financial services provider listed on the New York Stock Exchange. Not content with his achievements in the cryptography industry, Ju left X Financial to create Blue Helix, a cryptography-based company that aimed to develop a new digital badet retention and trading system.
Ju's team at Huobi also included Tyler Wu, the current managing director at BHEX. At Huobi, Wu held the position of general manager of the company in Singapore.
Selected image of Shutterstock.
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