Bibox, the AI-enhanced, encrypted digital asset exchange, today announced the official launch of its new Europe exchange with fiat-to-cryptocurrency trading of the euro (EUR) with bitcoin (BTC) and ether (ETH). More cryptocurrencies are planned to be incorporated into the exchange in the future.
First announced a couple of months ago, Bibox Europe has been granted membership with the VQF (Financial Services Standards Association), a self-regulatory organization approved by Switzerland’s financial markets regulator, FINMA in 2018. This enables the exchange to operate as a ‘financial intermediary’ under the Swiss Anti-Money Laundering Act (AMLA).
As a recognized SRO member under VQF, Bibox Europe is subject to a number of stringent rules and guidelines. In addition to rigorous audits, the platform’s KYB (Know Your Business) processes and AML compliance mechanisms are monitored on an ongoing basis.
“Europe’s concise regulatory and legal framework for cryptocurrencies, combined with our strong ties to some of the finest OTC services in the region, makes it the perfect fit for the expansion of Bibox. Our OTC Desk employs high-performance algorithmic formulas to outperform the markets and to trade at the lowest prices. We provide traders with high liquidity on top of rapid order execution because of our cooperation with major exchanges and other liquidity providers. Our OTC team consists of experienced leaders with vast experience in the crypto industry and traders with a wealth of knowledge of financial markets.”
– Aries Wang, Bibox Co-Founder
Bibox was founded in 2017, and emerged as a secure, encrypted digital asset exchange platform that differentiates itself from other crypto exchanges through its integration of powerful box. Bibox traders benefit from quantitative calculations and analysis of their trading activities, personalized risk management, diversification, and allocation strategy.
The expansion to Europe with a fully compliant custodian service brings greater liquidity and security to more customers with high-level KYC and AML. Bibox Europe will offer 0.1% transaction fees for the taker and maker, and zero deposit fees until September 30th, 2019.