THE ANGLO-ARABIC DECENTRALIZATION EXCHANGE
Buying and selling or holding and trading cryptocurrencies could be hard. Though, various new decentralized exchange ideas are developed almost on daily basis, they often suffer severe lack of fluidity and market making. In the middle east, where a high number people are unbanked but are now active in the use IoT devices and want to enjoy its benefits and profits, more active investors are looking for an advanced touch, and easier to use trading partners that matches their existing anticipations of participating in the financial market. Customers want to know that there are local people in their region that they can reach out to who speak their language and understand their customs.
There is exclusive prospect in the idea of focusing a centralized cryptocurrency exchange on the Middle East and in the Arabic language. Introducing foreign exchange operations and market making experience is required to create a more efficient and sustainable liquidity solution and a strong financial exchange ecosystem in a region where many participants are not proficient. The Middle East also has traders and investors that anticipate higher level of customer service, they would usually have preferred to partner with trading platforms that have security capability in their region and speak their language. This gives them confidence to be participants in this expanding economic phenomenon.
The crypto exchange market is developing at extremely high rates. Binance, a top exchange platform, announced that they attained over 250,000 new customers in a single day. Coinbase is said to have over 20 million users and controlling about 52 million as at May, 2018. The top ten global cryptocurrency exchanges are on track to generate over $1 billion dollars in fees annually according to Bloomberg’s analysis on the market. The size of cryptocurrency market is growing exponentially that the opportunity for exchanges around the world to acquire market share is hard to belittle.
THE CRYPTOSOUK TECHNOLOGY
CryptoSouk, a premier trading and financial technology company, has brought together a team comprising of global and regional forex trading technologists and security experts that can deliver on the Arabic language to launch a cryptocurrency trading platform. Bitcoin, Dash, Ethereum, Litecoin, Monero, Ripple and Zcash will be the cryptocurrencies on the exchange when it launches in the third quarter of 2018 and accounts can be loaded through cryptocurrency transfers or fiat payments.
The CryptoSouk Exchange platform focuses on simplicity, security and reliability to support a rich array of features. Its assurances are in making digital currency trading accessible, fast and totally secure, enterprise matching engine with execution ability of 1 Million transactions-per-second, native Chatting, advanced APIs to access or provide liquidity to others, multiple integration ability for KYC/AML, Banking/PSPs, 20+ order options including but not limited to; FILL or KILL, IOC, STOP, LIMIT, Interoperability with traditional and DLT infrastructure and Institutional Grade Security combined Cold/Warm/Hot Wallet rule based systems.
THE SOUK TOKENS
CryptoSouk will launched an ERC20 token on Ethereum called SOUK on the 8th of July, 2018. There are 52,000,000 SOUK tokens created @ $0.50 per token. They plan to raise a maximum of $10 million and minimum of $1 million from the token sales. Buyers of the SOUK utility token will get rebates on trading fees and other charges if paid for in SOUK tokens and early investors will be rewarded with the token.
Each user with an account on CryptoSouk Exchange will have a unique referral code that can be shared, once another user signs-up using this referral code, the referee gets entitled 50% of the transaction fee paid by their referral for an entire year. The Referrals program is designed to be appealing and generate viral growth to both investors, who can use their inner circles, and influencers, who can use their high profile social media accounts to publicize CryptoSouk.