Scotlandbased betdex ftx paradigmtancoindesk is all about the launch of a new product called BetDEX. The product is a decentralized exchange that will allow users to place bet on the outcome of events using digital tokens instead of fiat currency!
FTX says that BetDEX will be the first platform to offer tokenized bets on traditional sports, e-sports, and other events. The exchange is currently working with Paradigm, a crypto asset management firm, to launch the product.
Paradigm will provide liquidity for BetDEX and act as a market maker for the platform. The launch of BetDEX comes as the betting industry is facing increased scrutiny from regulators around the world.
In September, the UK Gambling Commission launched an investigation into the use of cryptocurrencies in gambling. The inquiry is focusing on whether or not digital currencies are being used to facilitate criminal activity. The Commission is also looking at the risks associated with crypto assets and how they are being used by betting businesses.
FTX says that BetDEX will be compliant with all applicable regulations. The platform will also allow users to bet on the outcomes of real-world events, such as elections and sporting events.
Scotlandbased betdex ftx paradigmtancoindesk – What we know so far?
BetDEX launched in Q1 2019. It is a Scotland-based cryptocurrency exchange, has added support for FTX’s new token, Paradigm. The move comes as part of BetDEX’s ongoing efforts to expand its offerings and provide its users with more options.
FTX is a cryptocurrency derivatives exchange that offers futures contracts on a variety of digital assets. The exchange is owned by Alameda Research, a quantitative trading firm.
“We are excited to add FTX’s new token to our platform,” said BetDEX CEO Andrew. “This is another example of our commitment to providing our users with the best possible experience.”
On the other hand, Paradigm is a crypto asset management firm that invests in blockchain and digital assets. The company was founded by Coinbase co-founder Fred Ehrsam and former Sequoia Capital Partner Matt Huang.
Paradigm is a new Ethereum-based token that was launched by FTX, a leading cryptocurrency derivatives exchange. The token is designed to offer holders a number of benefits, including discounts on trading fees and access to special features on the FTX platform.
So here Paradigm will provide liquidity to BetDEX and act as a market maker for the platform.
If you still have some questions or want to know more then we come up with some results which you can visit one by one to get more information.
- Source 1: https://thecryptoloud.com/betdex-solana-21m-ftx-paradigmtancoindesk/
- Source 2: https://finance.yahoo.com/news/solana-based-sports-betting-protocol-223712339.html
- Source 3: https://www.finsmes.com/2022/02/betdex-raises-21m-in-seed-funding.html
- Source 4: https://ca.finance.yahoo.com/news/solana-based-betdex-raised-21m-140407467.html
- Source 5: https://www.gamblinginsider.com/news/13914/betdex-raise-21m-to-launch-first-decentralised-betting-platform
So guys visit the above given sources for more information. If you still have any questions regarding the Scotlandbased betdex ftx paradigmtancoindesk, let us know in the comment section below and don’t forget to share it with others!