- The X10 team has recently announced the launch of their innovative hybrid cryptocurrency exchange, combining the benefits of DeFi and CeFi.
- According to the project developers, X10 offers users the speed and advantages of centralized exchanges (CEX) while allowing them to store assets independently and settle transactions on-chain.
- X10 operates as a hybrid exchange with a central limit order book (CLOB), ensuring high performance through off-chain processing, reconciliation, risk assessment, and transaction sequencing.
- The platform is inviting traders to participate in testing the product, which was developed by former employees of neobank Revolut, led by Ruslan Fakhrutdinov, the former head of Revolut’s crypto-asset department.
- Fakhrutdinov aims to combine the power and speed of exchanges like Coinbase and Binance with self-sustainability, emphasizing the need for strengthened trust and efficiency in cryptocurrency trading through on-chain settlement, validation, and self-policing.
- X10 offers simplified and secure wallet creation using social accounts, as well as mobile and Telegram bot trading options for users on the go.
- The platform has received investments of $6.5 million from venture capital firms including Tioga Capital, Semantic Ventures, Cherry Ventures, Starkware, and Cyber fund. Funding has also come from Lido founder Konstantin Lomashuk and Revolut executives.
- It is worth mentioning that Revolut recently partnered with MetaMask, further demonstrating the growing interest in cryptocurrency and blockchain technology.
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X10 launched a hybrid cryptocurrency exchange with the advantages of DeFi and CeFi
