What is Finafex?
Finafex is a state of the art crypto asset exchange and trading platform that works as the crypto-arm of the Capital Investment Bank Labuan Ltd. (CIBL) — An Investment Bank licensed under the purview of the Labuan Offshore Financial Services Authority (LOFSA). It is a fully regulated crypto trading exchange, the first ever in Southeast Asia and the only one based out of Labuan, the Offshore Financial Hub of Malaysia.
Finafex aims to be the leading crypto asset platform enabling seamless and secure Custody & Trade Settlement of modern-age digital assets for South East Asia by virtue of location, accessibility, usability, its cutting-edge technology, innovative tools, and trading packages: delivering all in a regulated and legally sound environment. The Finafex crypto exchange will start its operation by allowing crypto trading in the 50 leading cryptocurrencies with the pairs such as Bitcoin, Ethereum, Ripple and other selected cryptos. In addition to crypto to crypto trading, Finafex will also allow selected fiat currencies such as USD, CHY, EUR, and JPY as a trading pair. Finafex 24-Months roadmap includes a vibrant ICO and Crypto Bond Notes launching platform, Global Remittance & Settlement using blockchain, and an innovation lab on blockchain use-cases and token ecosystems.
At Finafex, we aim to fully harness the power of cryptocurrency and tokenization offered by innovative blockchain technology and strive to serve as the replacement for the traditional non-transparent Crypto Asset Exchanges with vague business models, uncertain regulatory compliance that are lacking in safety and security of user crypto assets.
We recognize the revolutionary potential and the growing popularity of cryptocurrencies and also understands the issues faced by crypto users on the global scale. Therefore, the Finafex Exchange Platform will not only serve as a leading crypto asset trading platform but also drive the crypto adoption through transparent, audited business model and compliance to regulatory obligations. We also understand that regulatory compliance is a must for any exchange.
The Finafex team consists of a highly experienced group of professionals from fintech industry including but not limited Blockchain Specialists, Venture Capital veterans, Bankers, Finance officers, Auditors, Research specialists, Programmers, Web Developers, and Marketing Specialists. We pride ourselves in a team who has hands-on experience in all facets of Financial Engineering and Deal Structuring. Our team includes early cryptocurrency adopters who have been studying the market and its development for years. We identified the shortcomings of the existing crypto infrastructure, which are coming in the way of wider crypto adoption, and we will ensure that that Finafex is not only profound in all aspects, but it also is designed to adapt to the everchanging crypto-market dynamics.
The Finafex Exchange Platform that is announced to be launched in July 2019 will ensure that two other major aspects of the exchange — UI and security — adhere to the highest standards of quality. We have different service models for the different target audiences based on their needs. For first time users, the model includes an interface which is simple and intuitive and enables them to conduct their initial low volume trades quickly and with ease. For advanced users trading high volumes, there will be several features to help them perform their trades with satisfaction and security. Concerning the overall security of the exchange, we have included bank-grade security and privacy features in the exchange to minimize the risk against attacks. In addition, the exchange will only be launched after it has been tested thoroughly for soundness of security. Any security gaps found in the testing will be removed, and the exchange will undergo several rounds of tests before it is made available to the public for use.
The MVP or the Beta version of the exchange is expected to be announced during the third week of January 2019, while the first ready version of the Exchange is announced to be launched on July 1st, 2019.