Revolut Vets Launch X10 Crypto Exchange
A new player has entered the crypto exchange arena, promising to bridge the gap between centralized and decentralized finance. X10, backed by $6.5 million in funding, aims to revolutionize the crypto trading landscape with its innovative hybrid model.
Founded by former executives from Revolut, X10 combines the speed and features of centralized exchanges with the security and transparency of decentralized platforms. Led by Ruslan Fakhrutdinov, former Head of Crypto Ops at Revolut, the team is on a mission to provide users with the best of both worlds.
Traditional centralized exchanges boast extensive portfolios and high performance but suffer from security vulnerabilities. Recent incidents, such as the FTX collapse, underscore the urgent need for more secure trading platforms. X10 addresses this need by offering full self-custody and on-chain settlement of trades, ensuring the safety of customer funds and transparency.
The hybrid model of X10 operates as a Central Limit Order Book exchange, handling order processing off-chain for optimal performance. Trade settlement occurs on-chain through the StarkEx Layer 2 engine, guaranteeing self-custody and transparency. Independent oracle price providers further safeguard against price manipulation, ensuring fair asset valuation.
X10 prioritizes user experience, offering advanced trading features and analytics. Multiple trading sub-accounts, advanced order types, and a professional-grade SDK enhance the trading experience. A customizable web interface, market and portfolio analytics, and premier on- and off-ramping options provide users with seamless onboarding and trading convenience.
The emergence of X10 marks an exciting development in the crypto trading landscape. With its hybrid model, the platform aims to revolutionize the way traders engage with digital assets, offering speed, security, and transparency in a single solution. As the crypto market continues to evolve, X10 is poised to lead the way in shaping the future of crypto trading.
