BitMEX Sets To Launch Its Exchange Token, Partners With Tokenzy

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BitMEX has is partnering with Tokezy Solutions to launch its native token, called “BMEX.” According to the announcement, BitMEX hopes to complete the launch phase of the project to enable trading on the token in the second quarter of 2022.

The exchange has joined a long list of exchanges that have launched their tokens, including Binance, Coinflex, and FTX. BitMEX’s tokens share similarities with other exchange tokens since the users can earn BMEX based on the fees generated and the trading volume on the exchange. However, the platform expects to add more use cases for the token in the future.

Offering A Reward For Clients’ Loyalty

Chief Executive Officer of BitMEX, Alexander Hoptner, commented on the development. “BitMEX is fast becoming a full crypto exchange ecosystem to serve our growing user base,” he stated.

He added that the firm always puts the users first, and BMEX was launched to reward their loyalty. Also, the partnership with Tokeny is the right decision because of its reputation in the tokenization technology space, Hopter stated.

Tokenzy will guide BitMEX towards the development and issuance of the BMEX tokens in the most secure way possible. The company has a wealth of experience and has worked with major crypto players that will streamline the token issuance process.

Tokezy Has More Than $30 Billion In Tokenized Assets

Tokenzy was established in 2017 as a platform that offers corporate clients user-friendly end-to-end solutions for the issuance and management of tokenized securities. It utilizes a distinctive T-REX protocol that integrates compliance obligations into digital assets smart contracts.

Tokenzy has offered its tokenization expertise to top financial institutions and crypto players. Since it was launched, Tokenzy has had over $30 billion in tokenized assets via its solutions.

Chief Executive Officer of Tokeny, Luc Falempin, also commented on the partnership. He stated that the company is happy to be collaborating with BitMEX on the project to launch its token. Due to the clear definition of token economics, the company has successfully deployed smart contracts. This, according to Falempin, was possible because of Tokeny’s in-house expertise and the efficiency of the BitMEX team.

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