NEOFRAME, a leading provider of IT solutions for major brokerage and asset-management companies in Korea, is launching a new cryptocurrency exchange called CoreDAX. The partnership between NEOFRAME and BANKEX will consist of sharing experience and expertise as well as using BANKEX fintech solutions, such as Custody Service for asset storage, market making, and Smart Contract audit. In addition, the two firms have also announced plans to jointly promote trading services in the Korean and global markets.
CoreDAX a new cryptocurrency exchange service from NEOFRAME, due to launch in the 3rd Quarter of 2018. NEOFRAME is in talks with multiple service providers regarding collaboration on the exchange.
BANKEX’s recent registration in Malta paved a path to providing enterprise solutions. The fintech leader can now integrate its products and services, including Custody Service secure asset storage, and its end-to-end STO framework, to partner enterprises worldwide.
The application for a range of licenses based on the Virtual Financial Assets Act (VFAA) enables BANKEX to provide a range of services, including the operation of a VFA Exchange, market making, custodian or nominee services, asset management, portfolio management, holding or controlling customers’ funds, and dealing on its natively-operated account.
The Korean trading solutions leader NEOFRAME took this opportunity to store client assets in BANKEX Custody Service. Keeping assets in Custody Service’s cold storage will ensure their security and help prevent reputational and business losses.
BANKEX will also act as a market maker on the CoreDAX exchange to ensure liquidity for the assets listed on the trading platform.
In addition, BANKEX will provide CoreDAX with security audits at scale for Ethereum smart contracts on its platform.
BANKEX is a global top-20 fintech company. We are developing the Proof-of-Asset Protocol to bring Banking-as-a-Service product modules and blockchain together. Our complete PoA ecosystem enables the digitization, tokenization, and exchange of assets for the full development of a tokenized global ecosystem. BANKEX infrastructure services and technologies include STO framework, Custody Service, BANKEX Token Exchange, Ethereum Plasma Prime, Supply Chain, and Digital Deal.
For more information, please visit bankex.com
Neoframe has leading technologies in high-performance system software for today’s complicated financial applications. Since 1999, Neoframe has developed market data processing and trading system as well as middleware software for financial market especially brokerage market. Neoframe’s solutions can cover more than couples of 100,000 concurrent sessions for processing market data feed and trading information as well as order processing with minimal response time and system load. Major securities companies in Korea are using Neoframe’s solutions for their customers.
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