Bitso, Latin America’s largest crypto trading platform.platform, has acquired Quedex, a regulated, Europe-based crypto derivatives trading platform. Quedex’s board of directors has stepped down and a new board was appointed.
Launched in 2014, Bitso was the first crypto exchange in Mexico and had an ambitious mission to provide financial services for both the banked and unbanked with blockchain technology and digital assets. Today, they are the largest exchange in Latin America with a customer base of 1.4 million and counting. The company offers two main products: the Bitso App for new or experienced cryptocurrency users to buy, sell, send, or receive crypto in a simple and intuitive way; and Bitso Alpha, a professional-grade crypto trading platform.
Founded in 2016 and headquartered in Gibraltar, Quedex is known for its high-performance, low-latency and high-throughput trading engine built using cutting edge technology, which supports leveraged trading in cryptocurrency futures and options. Additional sophisticated trading features include portfolio margining and a cutting-edge Liquidator Risk Transfer risk management system compliant with the highest regulatory standards. Additionally, Quedex was the first cryptocurrency derivatives company to be regulated in Gibraltar under the GFSC DLT license: the same framework that regulates Bitso.
The acquisition will integrate Quedex’s team and technology — notably its trading engine — as Bitso continues to expand throughout Latin America and globally. Quedex’s technology was built by an in-house expert team of software engineers and quants combining a wealth of experience from traditional financial markets and mission critical systems development.
“We’re thrilled to announce the addition of the Quedex team and technology to Bitso,” said Daniel Vogel, CEO and Co-Founder of Bitso. “We plan to continue expanding our product offering for all our users who use crypto in their daily lives. This acquisition is a testament to our commitment to continue to grow and to our mission of making crypto useful for everyone.”
“We’re excited to join the Bitso team to bring our tech to Latin America” said Wiktor Gromniak, former CEO of Quedex and incoming Head of Trading Engine at Bitso Alpha. “Bitso and Quedex are united in our missions to make crypto useful. Bitso has done an excellent job of doing that, both for the mass market and for professional traders. This is a mutually beneficial development for both of our companies’ users.” Wojtek Kostrzewa, Quedex’s previous Chairman emphasized that “all co-founders at Quedex have decided to take equity positions in Bitso and intend to support its further development.”
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