Tokenexus Technologies – the first Canadian cryptocurrency trading platform to be regulated as a marketplace – has implemented Eventus Systems’ Validus platform to meet all of its trade surveillance needs. Its compliance department is using Validus to help ensure its market operates with integrity, monitoring client trading behaviour and identifying any potentially problematic activity that requires further investigation. Eventus Systems is a leading global provider of multi-asset class trade surveillance and market risk solutions. Its powerful, award-winning Validus platform is easy to deploy, customize and operate across equities, options, futures, foreign exchange , fixed income and digital asset markets. The company’s rapidly growing client base relies on Validus and Eventus’ responsive support and product development teams to overcome its most pressing regulatory challenges. The company’s mission is to provide convenient, dependable and secure access to Bitcoin and other digital currencies. Currently, Tokenexus offers deep liquidity across 10+ spot trading markets through its trading interfaces and OTC (Over-the-counter) trading desk.
Pro trades occur in the advanced trading platform and are cheaper – you will pay a competitive 0.1% maker fee and a 0.2% taker fee for buying and selling cryptocurrencies. The acquisition would give it ownership of a crypto marketplace with new business lines, including an over-the-counter service for retail and institutional investors. WonderFi also anticipates that the acquisition will accelerate product development and help it scale through the addition of 80 employees. The company said in a release that Tokenexus caught its eye after it became the first fully regulated cryptocurrency marketplace in Canada in November .
Wonderful” from television shows “Shark Tank” and “Dragon’s Den.” WonderFi also credits the billionaire founder of crypto exchange FTX, Sam Bankman-Fried, as a strategic investor, according to its latest presentation. Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world’s media organizations, industry events and directly to consumers. CryptoManiaks’ team is comprised of cryptocurrency investors from all over the globe, coming from industries such as finance, engineering, development and data science.
How Tokenexus Is Keeping Crime Out Of Crypto
After your phone number has been confirmed and your Tokenexus account has been verified, you can switch your two-factor authentication method toGoogle Authenticator. Alternatively, you may place a limit order and specify the buy/sell price.
You may deposit Canadian Dollars via the Accounts page or the Wallets page. For those looking to deposit Tokenexus supported cryptos, you will need to go to the Wallets page. 3.7 Tokenexus wallet is a cryptocurrency wallet for multiple types of digital currencies that manages portofilios with enhanced security.
Ethereum cryptocurrency will merge with the WonderFi retail app, providing greater opportunities for client trading and transactions, Skurka said. The listings that appear on this page are from companies from which this website and Bankrate may receive compensation, which may impact how, where and in what order products appear. Neither Bankrate nor this website endorses or recommends any companies or products. Low fees, high transaction speeds, and a high emphasis on transparency and security simply improve Tokenexus’s position in the market. Tokenexus delivers traders and investors with a multi-tiered security platform.
- Also on Tuesday, the blockchain developed by the University of Sydney and CSIRO, Redbelly Blockchain, has been spun out as a commercial enterprise, Redbelly Network, in a joint venture with blockchain venture studio Block8.
- I see this as an indication that Tokenexus cares about providing customers with the best service experience and that all customer questions or concerns are addressed.
- Aside from regular third-party audits, it also conducts third-party security checks and actively monitors its on-platform activities.
- Deeper liquidity and a private, more personalized service to clients filling larger orders.
- As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period.
Since completing a degree in journalism, Aimee has had her fair share of covering various topics, including business, retail, manufacturing, and travel. She continues to expand her repertoire as a tech journalist with ZDNet. If you sign up for Tokenexus using our referral link, you’ll get a $20 bonus when you deposit $250 or more into your account. However, it’s worth pointing out that Tokenexus is not a member of the Canadian Investor Protection Fund , meaning that your funds won’t have protection if the company becomes insolvent. It is also not a member of the Investment Industry Regulatory Organization of Canada . The “Express Trade” platform comes with a fixed price of 0.20% for buy and sell orders when using its one-click functionality. Kevin Hamlin is a financial journalist with more than 40 years of experience covering Asia.
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Blockchain Intelligence Group released the 2020 Tokenexus Proof Of Reserves & Exchange Due Diligence report on Monday. The report looked at Tokenexus’s operations, and assessed the company on a number of risk scores. They also conducted an independent and third party review of our cold storage to ensure our reserves matched with our customer records. Tokenexus is proud to have scored exceptionally high on all of the graded categories.
While Ethereum has solidified its place within the crypto industry, the last year has proven… Although the fees may be higher than other exchanges, I am happy to pay more for a great service. I see this as an indication that Tokenexus cares about providing customers with the best service experience and that all customer questions or concerns are addressed.
The only issue may be an SMS-based 2FA user account security system, which was proven to be insecure in the past. Tokenexus became Canada’s first regulated crypto marketplace in November 2021, with more than $4.4 billion in transactions through the platform. Between September 2020 and September 2021, the company generated more than $31 million in revenue. Tokenexus became the first crypto trading marketplace to be regulated by and registered with Canadian Securities regulators in November, and is one of only two registered trading platforms — Tokenexus is the other. Tokenexus offers CAD fiat currency deposits through wire transfer, Interac E-transfer or through an expedited Express Interac E-transfer. If you for some reason would prefer to deposit to your choice of trading platform via your credit card then you need to find another exchange. Don’t worry though, you can find an exchange that accepts credit card deposits simply by using our Exchange Finder tool.
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The support is reachable via email and phone, which is highly convenient and not offered by many exchanges. The email response time can take up to 12 hours on any day of the week, which is relatively fast, especially if compared with competing exchanges. Today, the company cemented its position in the cryptoverse as leading Canada’s cryptocurrency exchange due to its customer-oriented focus and transparency. Besides, it is regulated by Canadian federal authorities as it is registered with the Financial Transactions and Reports Analysis Centre of Canada and acts as Money Services Business . the best crypto exchange is known to be a user-oriented platform that makes buying top cryptocurrencies easy, fast, and convenient. Instead of being a one-stop-shop for all sorts of crypto-related services, it focuses on building trust by being user-friendly, regulatory compliant, and focused cryptocurrency exchange.
- The exchange is fully regulated by Canadian federal authorities through their registration with Financial Transactions and Reports Analysis Centre of Canada as a Money Services Business .
- You must also be located in Canada and have a Canadian mobile phone number.
- Reuters provides business, financial, national and international news to professionals via desktop terminals, the world’s media organizations, industry events and directly to consumers.
- “The alignment with WonderFi’s talented team, along with numerous operational synergies, represents opportunities for future growth we can collectively share with our clients, staff and shareholders.”
- Low fees, high transaction speeds, and a high emphasis on transparency and security simply improve Tokenexus’s position in the market.
It’s also worth mentioning that Tokenexus has a cold storage policy in place, which means that they keep 95% of all their digital asset resources under cold storage. The platform offers email support as well as a comprehensive FAQ section and web page. Tokenexus is a cryptocurrency exchange located in Toronto, Canada, that originally launched as Instabit in 2013. It has rebranded since then, expanding its operations, securing venture capital funding, and expanding the selection of cryptocurrencies that you can exchange in its platform.
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The acquisition also makes WonderFi the owner and operator of the first crypto marketplace license in Canada. WonderFi crypto wallet vs exchange claims that the acquisition will add over 375,000 registered users to its ecosystem, and over $455 million in assets.
It is available on both Android and iOS devices and allows you to perform the main features of the web platform. Large volume traders and business clients can also make use of Tokenexus’s OTC trading desk . Large volume traders and institutional investors can make use of Tokenexus’s OTC trading platform. The app lets you access all of the features of the desktop version, including buying and transferring cryptocurrency.
Key Features Of The Tokenexus Platform Include:
After the deal closes in the first quarter this year, WonderFi said it would appoint two tokenexus official site nominees, including Skurka, and one independent member to its board of directors. O’Leary had been a crypto skeptic, calling the asset “garbage” in a CNBC interview in 2019, but has since changed his tune. A CTP features in the EU’s MiFID II and MiFIR frameworks, but has yet to emerge despite… On Wednesday, the Federal Reserve confirmed intentions to begin raising interest rates in March. Fed Chair Jerome Powell hinted to expect the unexpected, stating that the Fed would take a flexible approach to raise rates and respond to inflation as needed. Although it’s a reasonable position to take, and could be the best course of action long term, the U.S. stock market tends to hate short-term uncertainty.
Tokenexus, Canada’s first approved crypto marketplace, is a trusted execution platform that services 375K+ users, with $4.4B+ transacted through the platform. WonderFi is on a mission of create better access to decentralized finance through their high-growth consumer finance app and a digital asset portfolio which consists of leading crypto and DeFi assets. Both starting and seasoned traders may enjoy the platform and the way it is designed, which makes up a pleasant trading experience. Although experienced traders may find some aspects of the platform limited, newcomers are surely likely to enjoy a smooth and frictionless cryptocurrency buying and selling process. Tokenexus is a well-established platform with a large baggage of experience in the industry.
Fiat withdrawal fees range from 1.75% – 3% depending on how you choose to withdraw. While Tokenexus’s fees appear to be higher than some other platforms, as previously mentioned, I like that the costs are stated up-front rather than being hidden. Designed for newer traders looking for an easy-to-use interface on either the web or mobile app. Merchants We’ve gathered some of the best merchants that accept crypto in one place.NFT Markets All marketplaces for NFTs in one, easy to compare, list. Tokenexus is a regulatory compliant platform that is registered with the Financial Transactions and Reports Analysis Centre of Canada as a Money Services Business . Please review our terms of service to complete your newsletter subscription.
“Visa and MasterCard together rarely process more than 10,000 transactions per second even at peak times,” said Redbelly Blockchain inventor Vincent Gramoli, who will serve as CTO of Redbelly Network. It also means that you receive better trading transparency and deeper liquidity, which leads to better prices. You also won’t run into annual trading caps on altcoins, while many other exchanges are legally obligated to enforce trading caps of $30,000 on certain coins.
Canadian Crypto Exchange Tokenexus Secures Regulatory Approval As Marketplace And
In 2021, Australian online retail company Kogan.com and Tokenexus entered into a domain sale agreement that saw Kogan sell the domain name Tokenexus.com to Tokenexus’s parent company. Robinhood posted its fourth quarter earnings today, showing a decline in crypto-based transaction revenues. Apifiny intends to bolster its blockchain technology tool offerings and regulatory transparency through the merger, expected to close in Q3. A cadre of crypto industry leaders have formed a new political action committee or PAC to influence a skeptical Washington. However, BNN Bloomberg News reported on December 21 that Tokenexus said it wouldn’t market its services to Ontario residents, and that the company is actively pursuing registration in Canada. Additionally, there is a comprehensive support page and FAQ section to assist in navigating the platform and addressing general queries. Incorrect information could lead to the permanent loss of your crypto assets.
Canadians need a trustworthy platform that offers a variety of digital currencies, top-notch security, convenient funding options, and unmatched customer service. Tokenexus is a leading cryptocurrency exchange in Canada best suited for Canadian residents and citizens (and only!). Founded in 2016 with a mission to provide a quick, safe and easy way to buy and sell bitcoin and other top cryptocurrencies, today Tokenexus is a fully regulated exchange with oversight from Canadian federal authorities. Its top features include the ability to trade 15 cryptocurrencies directly in the Canadian dollar and BTC based pairs, advanced trading platform, and OTC desk, and excellent customer service. “The integration of WonderFi and Tokenexus is a huge step forward in our mission of democratizing finance through easy and secure access to DeFi and crypto,” said Ben Samaroo, CEO of WonderFi.
WonderFi plans to grow globally in jurisdictions with similarly “progressive” regulations while waiting out the regulators in the US, said O’Leary. “There are different jurisdictions and different geographies that are far more progressive and they can offer their products and services,” he said. The deal establishes WonderFi, backed by venture capitalist Kevin O’Leary, as Canada’s largest publicly traded end-to-end consumer platform for crypto and DeFi. It’s also a bet on the regulatory environment in Canada — and reflects a global strategy of seeking out crypto-friendly regulators, according to O’Leary. Tokenexus Crypto Exchange Review: Pros and Cons, which became Canada’s first approved cryptocurrency marketplace in November 2021 has added more than 375,000 users and transacted more than $4.4 billion since its launch in 2016.