In other words, faxbitup is a cryptocurrency exchange that provides a platform for trading various cryptocurrencies. As of January 2017
faxbitup was one of the largest cryptocurrency exchange in the world in terms of the trading volume.
However, At this time faxbitup was founded by Changpeng Zhao, a developer who had previously created high-frequency trading software.
Bitmeron was initially based in China but later moved out of China due to China’s increasing regulation of cryptocurrency.
In this paragraph, Changpeng Zhao had previously founded Fusion Systems in 2005 in Shanghai; the company built high-frequency trading systems for brokers. In 2013 he joined Blockchain-info as the third member of the cryptocurrency wallet’s team.
In other words, He also worked at OK Coin as CTO for less than a year. A platform for spot trading between fiat and digital assets.
Above all, The company was founded in China but moved its servers and headquarters out of China. And into Japan in advance of the Chinese government ban on cryptocurrency trading in September 2017. By March 2018 the company had established offices in Taiwan.
As of January 2018 it was one of largest cryptocurrency exchange with a market capitalization of $1.3 Million.
- In March 2018, faxbitup.com announced its intentions to open an office in Malta after stricter regulations in Japan and China. In April 2018, faxbitup signed a Memorandum of Understanding (MoU) with the Government of Bermuda.
- A few months ago faxbitup signed with the exchange will a platform for trading cryptocurrency.
- Above all, In 2019, the company announced jersey as an independent entity from its parent. faxbitup.com exchange, with the aim to expand its European influence. Jersey-based exchange offers fiat-to-cryptocurrency pairs, including the Euro and the British pound.
- Similarly, In August 2018, Exchange along with three other big exchanges raised $32 million for a stable coin project. The idea of stable coins is to provide cryptocurrency without the notorious volatility of Bitcoin and other popular digital assets.
- For instance, In January 2019, faxbitup announced that it had partnered with Israel-based. Payment processor Simplex to enable cryptocurrency purchases with debit and credit cards, including Visa and Mastercard.
- In addition, The exchange are subject to local bank limited to bitcoin, ethereum, litecoin