Ethfinex restarts business under DeversiFi brand

Posted 15 August, 2019

Ethfinex, a hybrid cryptocurrency exchange, is reportedly restarting operations after successful business rebranding and management reorganization.

The company announced that the platform will be called DeversiFi (former Ethfinex) and will no longer use operational resources of Bitfinex. For reference, Ethfinex was considered as a sister company of Bitfinex crypto exchange.

"In our biggest milestone yet, we bring you the evolution of Ethfinex Trustless to DeversiFi the only high-speed decentralised exchange where traders can execute orders of any size directly from the security of their private wallet," reads the press release.

At the same time, the updated exchange intends to expand customer base offering low fees and regulated products.

Moreover, the platform is also considering the launch of marginal trading and lending services. 

DeversiFi plans to get a competitive advantage in the market from its new revised system of commissions.

Once the platform switches to DAO management, it will deal only with new token necDAO.

The revenue will be left from Ethfinex, though the exchange will change registration. It will be registered on the Virgin Islands. 

The company management expressed intentions to get regulatory licenses in Europe in the long run.

It was also mentioned that CTO of Bitfinex and Ethfinex Paolo Ardoino was invited to DeversiFi as a consultant. However, he will not take part in the daily routine at the platform.

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