Mbaex, “master in blockchain trading”, according to its publicity is a cryptocurrency trading and exchange platform which takes advantage of blockchain technology to manage digital currency transactions.
It’s established in Cyprus (which is becoming, with Malta, one of the most important countries in the world regarding cryptocurrencies and blockchain projects). The platform allows users and customers to conduct trading in several popular digital currencies, even among themselves and without fees.
The company boasts a group of professional employees from Europe, Southeast Asia an China with deep backgrounds in the Forex trade, the banking industry, blockchain asset management, and the fintech industry.
While the firm is incorporated in Cyprus, it does business mainly in Southeast Asia. In this region of the world, it’s the biggest blockchain assets trading platform. It features a full-fledged forex brokerage system and a standardized banking system. It’s a cryptocurrency trading platform with all the features you can find in traditional forex trading houses. This combination of characteristics allows for huge volumes in transaction and tradings. It’s very compliant with anti-money laundering laws in all jurisdictions.
And now, the company has announced it will be supporting Tron’s Tronix digital asset (TRX) starting next Friday at noon, Singapore time. TRX deposits will be accepted since the day before at noon, Singapore time, and withdrawals will start on December 21st.
The coin will be available in three trading pairs against Bitcoin, the US Dollar, and MDP.
The biggest piece of news here is the TRX/USD pair because that’s quite unusual. Most exchanges featuring TRX do not support a pairing against any fiat currency but against Bitcoin. This has made TRX’s performance rather frustrating throughout the year because Bitcoin has had a terrible year, as everybody knows, and TRX’s pegging with it has made it very difficult to take off in price even as the project has had nothing but great news to report for months.
As we write this article, Tron’s price is at $0.014184 USD and trading in red numbers against the USD but in green numbers against Bitcoin. Its market capitalization (938 million USD) gives it the eleventh place at coinmarketcap.com.
Tron was founded last year, on September, by Justin Sun, a close friend of Alibaba’s founder and CEO, Jack Ma. It’s a very ambitious third generation blockchain project which aims to decentralize the web using the blockchain so that power over content remains in the hands of content producers instead of central authorities such as Google, Youtube, Amazon, Facebook, and all the other usual suspects. Tron is already the world’s largest decentralized network because it now owns BitTorrent (which already supports the TRX token).
Mr. Sun’s project keeps accumulating good news in market conditions that are not that promising for anybody. Every new listing in new exchanges is important because it increases trade volumes the world over, and that becomes relevant regarding technical analysis. Higher trading volumes breed confidence and demand, and those two things make a coin’s price go up.
It will be worth it to keep an eye on Tron. The token is still very cheap but forget the price for now. This is a blockchain project that has some very real value because of its high performance, great technology and versatility. It will take off, sooner or later.
Image courtesy of Pixabay.