AlphaPoint powered brokerage Bitazza receives Thai SEC approval and launches to serve the local market
BANGKOK, Thailand, April 29, 2020 (GLOBE NEWSWIRE) -- Following Bitazza’s acquisition of a digital asset broker license from Thailand’s Ministry of Finance, the company has taken its first step towards regional expansion, using AlphaPoint’s newly developed brokerage technology solution to launch the first digital asset brokerage business in Thailand offering institutional grade, smart routing of domestic orders to international markets with deep liquidity, and a plan to develop their own digital ecosystem token to be used as fuel for trading fees.
AlphaPoint has also announced its new private label brokerage technology. This new solution provides Bitazza customers a platform to trade and manage their digital assets using highly secure infrastructure with advanced user interfaces and order types, as well as a user-friendly mobile application for convenience and fluid access to markets. As one of the first brokers approved to operate in Thailand’s stringent regulatory environment, Bitazza is unique among first-to-market players for their issuance of a native utility token (BTZ) accepted for fee payment.
AlphaPoint has been actively developing the white label brokerage technology to enable marketplace operators to support best-in-class user experiences for buying and selling cryptocurrencies and other digital assets. AlphaPoint recently added Tim Scheve, President and CEO of Janney Montgomery Scott, LLC, to its board of directors with the aim to acquire more brokerage customers globally. Appointed CEO in 2007, Tim has spearheaded Janney’s growth as a full-service brokerage and asset management firm with $750M revenues, $90B client assets, and nearly 2,000 employees serving individual, corporate, and institutional clients.
AlphaPoint is well known for its exchange technology and has made key enhancements to enable operation of brokerages under a variety of local regulatory environments. Some new features developed for AlphaPoint’s brokerage technology include:
Enhanced Liquidity – Multiple new liquidity sources and market maker connections provide access to competitive pricing and deep books.
Execution Management – Modifications to AlphaPoint’s world-renowned White Label Exchange Software enables limiting order matching to specified internal and market maker accounts, enabling compliance with regulatory requirements.
2nd Level Orderbook - While matching is restricted between end users, placing advanced orders is fully available including resting orders such as limit, stop limit, trailing stop limit and attributes such as fill or kill (FOK) and immediate or cancel (IOC)
Co-founder and CEO of AlphaPoint, Igor Telyatnikov said, “As a technology company, it is always exciting to roll out a new product and have a customer successfully launch with it. We are excited about Bitazza’s prospects to expand access to digital assets in Thailand and the broader region. Given what is happening globally, we believe demand for cryptocurrencies and digital assets will continue to accelerate.”
Kavin Phongpandecha, Bitazza Chief Executive Officer commented, “We are excited to provide a locally-based platform where Thais can have access to deep liquidity through connections to international markets. We partnered with AlphaPoint because they have the technology and the experience to make our vision a reality. Bitazza was founded with a mission to accelerate the reach and adoption of blockchain technology through better infrastructure and terms, whilst enabling financial inclusion in the local market, as well as financial freedom in the long run.”
Bitazza is ASEAN's local digital asset platform comprising of connected exchanges and brokers setup locally in Thailand, Malaysia, Vietnam, Philippines, Indonesia and Singapore.
Clients have direct access to the respective personal brokers of their trading accounts and enjoy direct integrations with local financial institutions of their country. Bitazza enables easy and speedy deposit, withdrawal and conversions between local fiat - cryptoasset - fiat through our website and mobile application, as well as an institutional grade API for advanced users.
Bitazza will provide the masses with blockchain-based cashless payment solutions in the future with an eye on mass retail, thereby promoting the use of digital assets to supplement the typical day-to-day, fiat-based transactions from beyond Thailand, across Southeast Asia.
AlphaPoint is a white-label software company powering crypto exchanges worldwide. Through its secure, scalable, and customizable distributed ledger platform, AlphaPoint enables customers to launch and operate markets, as well as digitize assets. AlphaPoint and its award winning blockchain technology have helped institutions discover and execute their blockchain strategies since 2013.