Bitfinex Plans Launch of Decentralized Exchange Eosfinex

Bitfinex has announced that it will launch a decentralized cryptocurrency exchange built on the Eos.io platform. The new platform, Eosfinex, will be the first exchange to be hosted using Eos.io’s decentralized application infrastructure.

Also Read: EOS Raises $700M Despite Token Affording No “Rights, Uses, Purpose, or Features”

Bitfinex Partners With Eos to Develop Eosfinex

Bitfinex claims that Eosfinex will offer a “fast, transparent and trustless platform for the trading of digital assets” through Eosfinex, which is to be the first decentralized exchange built using Eos.io’s protocol.

J.L.Van Der Velde, the chief executive officer of Bitfinex, stated: “We are excited to leverage EOS.io to further advance the field of high performance and trustless on-chain exchange. Block.one continues to display an unwavering dedication to improving blockchain scalability through the EOS.IO platform and it is our hope that this collaboration will allow significant advancement for all decentralized exchange.”

Mr. Van Der Velde also suggested that decentralized exchanges “represent fundamentally transformative capabilities for the blockchain industry.”

Bitfinex Banking Controversy Continues

Speculation surrounding the opaque banking practices of Bitfinex have continued to grow in recent weeks.

According to a post on Reddit, Bitfinex has again directed customers seeking to deposit fiat currency with the exchange the account details banking institution previously not associated with Bitfinex. The Redditor claims that he was directed to deposit his funds with Portuguese state-owned banking corporation, Caixa Geral de Depositos.

Another Redditor responded to the post, stating that name of the account holder, Global Trade Solutions A.G. (GTS), “looks like a shell for CryptoCapital,” alleging that GTS is closely affiliated with Crypto.Zoo. The poster concluded that as such, Bitfinex is likely “rotating banks but [operating with] the same banking partner.”

Tether/Bitfinex to Purchase Puerto Rico Bank?

Local media recently reported that Nicholas Prouty, the CEO of Puerto Rico-based hedge fund Putnam Bridge Funding, stated that Tether’s leading figures are seeking to purchase a bank on the Carribean Island.

According to a rough translation, Mr. Prouty said that “A group of ‘crypto guys’ are close to buying a bank in Puerto Rico. The reason they have bought a bank is that no bank in the United States is willing to accept crypto. Because Puerto Rico is a territory, there are some banking licenses that are possible here and that enable a very creative banking structure,” adding that “The bank they were working with did not want to continue working with them with that kind of responsibility. This has necessitated the purchase of a bank that requires an infusion of capital from a sovereign wealth fund to create an initial reserve. They will start banking with crypto soon.”

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