HONG KONG, March 2020 – AAX, the next-generation cryptocurrency exchange that offers over-the-counter, spot, and futures trading across a variety of digital assets, today shared the plan to introduce the first of a series of innovative financial instruments and digital assets which enable greater integration between crypto and traditional asset classes, next-level avenues to invest in the crypto space, and that is attractive to both retail and institutional investors.
The series includes various kinds of indices, Bitcoin dimensions contracts, tokenized commodities and security tokens. AAX is dedicated to expanding the crypto market and tap into the $20 trillion dollar commodity market, and the world’s $80 trillion dollar stock markets enabled by tokenization.
The first commodity finance token Phigold has been listed exclusively on AAX. Phigold (PGX) is an innovative token that provides an alternative avenue for investors to gain exposure to the price of gold. Used to fund mining operations, the token is expected to print a yield curve as it moves towards the spot price of gold.
AAX also reveals the plan to issue its own platform token AAB, as a bridge between crypto and global finance.
“We saw a future where tokenization would give rise to a full spectrum of digital assets, connecting crypto with global markets, allowing for a borderless flow of capital across economies.” Says Thor Chan, CEO of AAX. “The investment classes primarily accessible to financial elites with large amounts of capital will gradually become more open to retail investors.”
Founded in March 2018, to serve both retail and institutional investors, AAX went live in November 2019, in what is the first time a cryptocurrency exchange is powered by the London Stock Exchange Group’s technology provider LSEG Technology. It Is also the first cryptocurrency exchange that joined the London Stock Exchange Group’s (LSEG) Partner Platform, providing institutional clients ease of access to the crypto market.
Boasting a high-performance, high security and fully compliant exchange venue, AAX plans to roll out more institutional-grade financial products. “The crazy 100 times returns on a single token phenomenon has passed and the market has become more sensible and professional. With regulation coming in to provide higher levels of consumer protection, and institutional investors on the fence to tap into this emerging market, AAX is confident that this investment space has the potential to grow at least a hundredfold, reaching into the trillions. Sophisticated products that enable the mainstream to more easily gain exposure to traditional asset classes, and innovative financial instruments that enable different types of engagement with the crypto markets are vital to this growth.” Thor added.
AAX is part of Atom International Technology Limited, a specialist in decentralized blockchain solutions using leading-edge digital technology. AAX is the world’s first digital asset exchange to be powered by LSEG Technology. Offering OTC, Spot, and Futures trading, quoting more than 50 cryptocurrency pairs and listing 5 perpetual futures contracts for Bitcoin, Ether, Litecoin, Ripple, and EOS, which can be traded with up to 100x leverage, AAX provides a secure, deeply liquid, ultra-low latency and fully compliant trading platform. It is powered by the Millenium Exchange matching engine, which is capable of handling up to hundreds of thousands of transactions per second at an average latency of under 500 microseconds.