White-label cryptocurrency exchange
A white-label cryptocurrency exchange is a software used as a place for users to trade. The main purpose of the software is to allow business or individuals to start their own cryptocurrency exchange for digital assets trading. One of the first major public announcements for the usage of an exchange software was UK Royal Mint when they wanted to create digital assets backed by gold.[1]
A white-label allows for simple exchange re-branding and customization by using the software for the purpose of cryptocurrency exchange trading. Typically a white-label cryptocurrency exchange software will include a web interface, trading engine and crypto wallet as well as a back end admin or a back-office interface for managing users on the exchange. Some exchange software kits include an exchange cloud service that allows exchange operators to outsource the exchange server setup and hosting to a third-party business.
White-label exchange software is unique in that it handles multiple specialized areas of the exchange that is normally dedicated to independent areas. For example, traditional exchanges such as NASDAQ separates fund custody to dedicated custodians whilst a cryptocurrency exchange will typically handle the custody of funds directly. White-label exchange software has only become popular largely due to crypto-assets open-source technology nature as opposed to traditional currencies and stocks which are bound to a country and/or company making them difficult to trade without permission from multiple parties.
Some white-label exchange software that exists today include the HollaEx Kit[2], Binance cloud exchange and Alpha Point[3]
References[edit]
- ↑ https://www.coindesk.com/uk-royal-mint-testing-blockchain-gold. Missing or empty
|title=(help) - ↑ https://bitholla.com/hollaex-kit/. Missing or empty
|title=(help) - ↑ https://alphapoint.com/. Missing or empty
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