Michael Moro, the former CEO of Genesis Trading, is taking the helm of a new cryptocurrency derivatives exchange called Ankex. Ankex, which enters alpha testing this week, will begin with perpetual futures contracts in markets outside the U.S. and allow users to keep custody of their assets in a decentralized manner. Moro said, The old model of custody, trading, and settlement all in a box is done, but people are used to the central limit order book, fast matching, and all of that stuff that offers a better trading experience.
Ankex, which has some 17,000 users waiting to test it, is in the process of becoming registered and licensed in the British Virgin Islands, and plans to become regulated in the U.A.E. and Dubai. During the alpha stage, Ankex will handle plain vanilla perpetual futures with a maximum leverage of 20x for Bitcoin and 10x for Ether and Binance Coin. Additionally, the platform will offer derivatives on tokens that are less common and lower in the market cap table.
Moro pointed out that Ankex is a separate company from Qredo and, after three months of alpha testing, the exchange will add Metamask and Fireblocks so any non-custodial wallet will be able to plug in and trade.