Singapore-headquartered Bitsdaq has unveiled its new cryptocurrency exchange, engineered on Bittrex's infrastructure to serve the booming Asian digital asset trading market. The launch comes after rem
Singapore-headquartered Bitsdaq has unveiled its new cryptocurrency exchange, engineered on Bittrex's infrastructure to serve the booming Asian digital asset trading market. The launch comes after remarkable early demand, with Bitsdaq drawing 10,000 account signups within the opening day—translating to roughly 1,000 new users hourly. A spokesperson indicated the pre-launch reception had exceeded expectations.
The Asian trading landscape remains highly competitive, with established giants Huobi, Binance, and OKEx controlling significant market share. Bitsdaq aims to differentiate through its technical backbone supplied by Bittrex. According to Ricky Ng, the platform's chairman and CEO, this collaboration represents a strategic move to penetrate global markets while broadening options for Asian investors.
"By joining forces with Bittrex, we're positioning ourselves to capture significant global market opportunity through enhanced Asian participation," Ng explained to MiningPool. "The partnership equips us with industry-leading technical infrastructure and human capital. Our team brings decades of combined cryptocurrency sector expertise, with key personnel recruited from international finance, crypto exchanges, and technology development backgrounds. We've developed specific competencies in derivatives trading, algorithmic trading, platform engineering, systems construction, and safeguards."
Established in 2014, Delaware-based Bittrex has built a reputation as a major exchange offering expansive coin selection coupled with robust security standards. During 2018, Bittrex pursued international growth through partnerships with regional operators—partnering with VALR in South Africa and teaming with South Korea's Dunamu, which operates Upbit. The exchange formally established Bittrex International in September 2018 as a dedicated subsidiary managing offshore operations.
On Bitsdaq, traders will access the complete portfolio of coins listed across both Bittrex and Bittrex International. The platform will leverage Bittrex's market depth feeds for superior order matching. Complementing this infrastructure will be educational resources and customer support aimed at novice market participants. The exchange emphasizes regulatory compliance and curation of quality blockchain ventures.
Looking ahead, Bitsdaq plans eventual fiat on-ramp capabilities and a feature set incorporating governance tokens, trading discounts, holder voting mechanisms, and community governance. The roadmap encompasses exclusive analysis produced specifically for Bitsdaq members, alongside expansion into Asset Tokenization Offerings, security token trading, and perpetual derivatives.
Ng highlighted that during bear markets, derivative leverage becomes essential for generating returns. The company will prioritize platform stability and transactional efficiency throughout 2019 while designing bespoke offerings for traders, token projects, and institutional clients.
"Achieving sustainable growth demands strategic foresight combined with responsiveness to market conditions," Ng stated. "Our 2019 objective is establishing ourselves as the preeminent Asian alternative to Bittrex."
