The founder of Indian crypto exchange WazirX, Nischal Shetty announced the company is expanding operations and exploring building a separate decentralized exchange (DEX) that will operate alongside the company’s current centralized service.
The decision to launch a DEX is a response to the July 2024 WazirX hack, according to Shetty. The hack drained the exchange of approximately $235 million in user funds — and should help eliminate the counter-party risk inherent in centralized platforms. The WazirX founder asserted:
"The best thing is that you'll be able to self-custody your assets here — your assets will be completely under your control — and you can freely trade or do what you want with your assets."
The WazirX founder also revealed plans to launch a corresponding DEX token to pay for fees on the platform and provide an instrument for governance.
Arkham launches crypto perpetuals exchange
Arkham Intelligence, a Blockchain analytics firm has launched a cryptocurrency derivatives exchange, according to a Nov. 6 announcement.
The exchange will reportedly target retail traders and compete with existing platforms such as Binance.
In a post on X, Arkham said, It will integrate Arkham’s research and feature live on-chain audits and proof-of-reserve (PoR.
Arkham also said that the trading will commence next week but the exchange will not be available to people in the United States.
The crypto derivatives market is exploding, largely driven by trading activity from retail investors.
BNB Chain reveals no-code real-world asset tokenization service
A new real-world asset tokenization service has been unvieled by the BNB Chain. It provides individuals and businesses with a no-code solution to tokenize real-world assets in “minutes.”
According to the announcement, this new service streamlines the process of asset tokenization through in-built compliance tools and clear guidance through each step of the tokenization process — including asset securitization and onchain minting of tokens.
Using the BNB Chain’s tokenization solution simplifies and reduces the cost, time, and labor involved in tokenizing assets, making it more accessible for small businesses to enter real-world asset tokenization.
Tokenizing physical assets offers businesses benefits like fractional ownership of art, securities, collectibles, and carbon credits. It also brings cost savings to loyalty and rewards programs, boosting consumer engagement.
