KXCO.IO the soon to launch Blockchain based exchange will launch FX trading in early 2023. The addition is expected to add significantly to the bottom line of KXCO within the 1st 12 months.
KXCO developed from FX and Equity trading on to Crypto, the incorporation of all Security Markets in to a single platform in 2023 will be enable traders to navigate Traditional and Emerging Markets as well as embrace the new world of digital assets.
FX is of particular interest as the development of CBDC gathers pace, FX Trading of CBDCs will be an essential part of their development and KXCO will be one of the 1st to market with the ability to delver Blockchain based FX trading going between regular Fiat and CBDCs.
The foreign exchange market sees more than $7 trillion in daily turnover, according to the Bank of International Settlements, and these transactions are critical components for trade between nations. Currently, FX transactions take about two days to settle, exposing parties to credit risks and making the global economy less efficient.
The Federal Reserve Bank of New York’s Innovation Center published the results of the initial phase of Project Cedar, the bank’s effort to create a technical framework for a central bank digital currency that could be used by large financial institutions to verify and settle forex transactions.
“Safe and efficient cross-border payments are critical to the functioning of the global economy,” said Per von Zelowitz, director of the New York Innovation Center, in a statement
The study “revealed promising applications of blockchain technology in modernizing critical payments infrastructure, and our inaugural experiment provides a strategic launch pad for further research and development regarding the future of money and payments from the U.S. perspective,” he added.
The introduction of FX to KXCO will further enhance the prospects for $FBX as it will be included in the currency pairs traded, it will also bring in to focus the use of FBX as a savings unit outside of the USD that has substantial advantages.
FBX as a Value Store
- Even the smallest percentage of inflation compounds over the years and deteriorate the purchasing power of the money you own.
- New money is being printed at the fastest rate in history, destroying the value of your savings
- FBX has been designed as a type of asset that will increase in value as KXCO grows and as the asset base of KXCO grows increasing the purchasing power of the money you invest in it.
KXCO spans the entire blockchain ecosystem ranging from a unique sophisticated blockchain with unique features (KXCO Armature™), to a Centralised-Decentralised-Exchange (KXCO Exchange) run by expert traders.
Built by a team of experienced traders, gaming specialists and IT engineers with an entrepreneurial spirit, the KXCO™ was founded in 2017 and built with a mission to create a unique financial ecosystem.