The Switzerland-based crypto startup MoonX is planning to draw in investors from India by launching its decentralized non-profit trading platform. The centers will be developed at Bengaluru, London and Beijing. Kerela is also on their wishlist as it has numerous NRIs working in West Asia. The crypto platform will be started by the end of November.
MoonX is started by a group of investment banking experts. The startup raised $29 million in funding for its operations. Tony Lee, founding chief controller says, “MoonX is targeting 5 million customers across the world in one year.”
MoonX CEO Nithin Palavalli explained that one can be a part of MoonX family just by trading once on the crypto platform. He says, members can collectively participate and contribute and thus remunerated with Moon Money which is proportionate to shares and casting ballot rights in the organization.
Palavalli said the exchange will charge the least brokerage and offers nanosecond response time. 10 million transactions will be performed by one second which is superior to other exchanges. “We have invested a lot in technology to make it fully secure and fastest exchange,” he said.
Beginning with digital forms of money, MoonX has plans to extend to the trading of treasury bills, foreign exchange and commodities. MoonX wants to take the blockchain technology to the next level with its application in farming, financial technology, education, food safety and medicinal services, as published in The Economic Times.
As reported by Bitcoin Exchange Guide, crypto trading platform MoonX is building its walls strong by adding experts to the team. Rahi Racharla, the “Tech Whiz” of Wall Street, joined MoonX with an aim to support the company with its technology. He is the Founding Technology Executive of the company, and he earlier used to work at one of the world’s largest commodity exchanges as CIO of Multi Commodity Exchange (MMCX).[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]