The X8 project has come a long way since the concept was in the beginning of taking shape. X8currency is now institutionalized. We are also moving closer to another important milestone, which will open the way for X8currency to be put into operation.
X8 AG started the process of opening a corporate account with Bitstamp — a regulated European crypto exchange. This is the first step for X8currency towards opening its crypto liquidity window for anybody who will want to use the functionality of the X8C smart contract — Decentralized Auto Conversion Platform.
Bitstamp offers FIX Protocol connectivity for B2B users to connect their own systems to the Bitstamp exchange. For us this is one of the best options. ioNectar’s ARM AI technology already uses FIX protocol to connect to financial intermediaries and their servers. This is one of the most direct ways to connect our system to the crypto world.
Why is this important in our plan? When the X8C smart contract will have all necessary links established to convert ETH for fiat and vice-versa, X8currency will be one step closer to starting production. From an early stage people will be able to start using X8C directly without going to the exchange. The smart contract itself will find effective routes to exchange crypto into fiat and produce X8C tokens for the client in return.
SHORTER TIME TO MARKET
Investors will only need to send ETH to our X8C smart contract’s address. This is a big advantage for us and for X8currency in the crypto market. Linking to the Bitstamp exchange enables us to start building liquidity for our product and to make it available on the market. We feel that this is one of the best ways to start the process.
When our application will be resolved successfully, the X8 project will implement the Bitstamp process into out platform and start testing it as soon as possible. When connectivity to the entire system will be in place, the platform will know how to issue X8C tokens.
This will permit our project to further prepare the broader infrastructure mechanism for the engagement of Automatic Reserve Management AI. ARM AI will become activated when sufficient reserves will accumulate on X8currency AG accounts. Nevertheless, because of the described approach the X8C production start will not be dependent on raising large reserves from the start. This will further accelerate the time to market for X8currency.
A working infrastructure is one of the most important elements for any service or product to start entering the market and to start gaining market share. Even if it starts from a smaller scale initially, the system will be able to start producing a product and then expand the liquidity network further from there. We look forward to this process as it is of direct benefit to our project, X8currency and all our supporters and investors.
Remember, X8Currency is the ultimate crypto safe haven.