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In the world of crypto, it’s not uncommon to see token allocations heavily favoring venture capitalists and institutional investors, while leaving little room for the average user to benefit from the project’s success. However, there are exceptions, as shown recently by a secure crypto and derivatives trading platform Ouinex, which
Initial coin offering (ICO)-bound Ouinex, an upcoming cryptocurrency exchange, announced its partnership with Interactive Trading (IVT), a France-based trading academy hosting a community of 150,000 active traders.
Key Partnerships Before the ICO
The partnership is strategic, as Interactive Trading is taking an undisclosed stake in Ouinex, and users of the trading community are receiving early access to the $OUIX token with a strategic sale round at a discount of 40 percent.
“Interactive Trading is a heritage brand recognized by the french speaking community as the go-to institution for anyone actively trading the markets. Their program now regroups one of the largest communities of traders in Europe,” said Ouinex’s Co-Founder and CEO, Ilies Larbi.
“We are thankful for the IVT community’s trust in Ouinex, and most importantly thankful for their contribution in accelerating our growth through their investment in the $OUIX token.”
According to the press release shared with Finance Magnates, over 1,500 traders from the Interactive Trading community signed up in a week to purchase the $OUIX token with an average investor ticket size of EUR 2,300.
A Native Token of the Crypto Exchange
Ouinex’s native tokens are utility tokens, meaning they can be used to receive discounts while trading on the platform. Further, token holders will have voting rights while making certain decisions for the development of the exchange, inducing asset listings and product features.
Larbi pointed out that the partnership with the Interactive Trading community guarantees a potential trading base of expert traders upon launching the new crypto exchange, which is expected to launch services in Q1 2024.
Ouinex, which is finalizing the technology for the exchange, is now focused on the launch of its ICO, that is initially planned for the first quarter of 2023 but is now delayed. Moreover, the exchange partnered with GDA International to streamline its ICO launch.
“Our users being able to work with the Ouinex team to create a hyper-custom exchange that meets their needs as sophisticated traders is a home run and will ensure our users are always receiving a best-in-class crypto trading experience,” said Rodolphe Steffan, the Founder and Head of Interactive Trading.
This article was written by Arnab Shome at www.financemagnates.com.<p>Ouinex, the cryptocurrency exchange launched by FX industry veteran <a href="https://www.financemagnates.com/executives/moves/industry-veteran-ilies-larbi-leaves-fxcm-launches-new-crypto-exchange/" target="_blank">Ilies Larbi</a>, informed Finance Magnates that it is aiming to secure €1 million in its pre-initial coin officer (pre-ICO) <a href="https://www.financemagnates.com/terms/f/funding-round/" target="_blank" id="d08fbe2e-fff7-405c-9466-eaaa94820467_1" class="terms__secondary-term">funding round</a>. </p><p>There will be two subsequent ICO rounds expected for Q1 2023 launch. With that, the company will seek a further €15 million. It has already launched its website and whitepaper to support the funding.</p><p>Headquartered in France, Ouinex is an international <a href="https://www.financemagnates.com/terms/c/cryptocurrency-exchange/" target="_blank" id="601e2e5f-0c28-4253-9ad4-5e6b251ba2fa_2" class="terms__main-term">cryptocurrency exchange</a>. Larbi launched the exchange earlier this year after a long career in the retail forex and CFDs trading market. The exchange has a team of seven people, including the Co-Founder and Chief Commercial Officer, Benjamin Verdot, and Chief Strategy Officer, Lisa Majmin, both of whom are involved in the capital raising process.</p><p>"We feel our strength resides in the composition of the team," Majmin told Finance Magnates.</p><p>The company is targeting angel investors, venture capitals and high-net-worth individuals for its pre-ICO round. It will also allow retail investors to purchase OUIX tokens, which is a utility token of the exchange, in the ICO round. </p><p>Ouinex is targeting investors in the European Union, Africa and Latin America for its funding.</p><p>“After months of development, Ouinex Crypto Exchange is proud to announce our foray into a round of discussions for our pre-ICO cap raise,” Ouinex stated in its official press release shared with Finance Magnates.</p><p>“The last few months of the crypto 'winter' has proven opportune as our team has refined our strategy and offering. Our strategy relies on our agility to adapt to the current market climate."</p><p>Opportunity in Hard Times</p><p>Moreover, the exchange is seeking funds at an interesting time when the ICO market lost its popularity and cryptocurrency prices are shedding value.</p><p>“We firmly believe that the ICO market isn't dead, but rather has consolidated into a more strict environment,” said Majmin. “ICO investors are now a lot more diligent in choosing the projects they invest in, and only solid ventures will earn their trust. Where in the past all ICOs had decent chances at being successful, now only the most robust projects can make it. Ouinex is one of these projects.”</p><p>Further, the exchange thinks that the ongoing bear market gives traders and investors an opportunity with lower prices.</p><p>“We anticipate a decrease in investment appetite for investors to the crypto industry, however, we see that that the more seasoned VCs & Investors are still very much active in the space as this isn't the first <a href="https://www.financemagnates.com/thought-leadership/surviving-the-crypto-winter/" target="_blank">crypto winter</a> they go through,” the spokesperson added.</p> This article was written by Arnab Shome at www.financemagnates.com.
Ouinex, a crypto exchange under development led by the FX industry veteran Ilies Larbi, has announced a strategic partnership with GDA International, a Web3 investing and capital markets advisory firm supporting early-stage digital asset projects. The partnership came ahead of Ouinex's initial coin offering (ICO).
GDA to Help Ouinex's ICO Launch
The official press release details that Ouinex will help launch the crypto exchange's utility token, $OUIX.
"GDA has been an invaluable partner in helping bring the $OUIX token to life," Larbi told Finance Magnates. "Coming from the tradFi space, we needed the invaluable expertise of web3 experts, notably on go-to-market strategies for ICO launches. From creating the fundamentals behind the token to investor relations and growth, GDA has helped build our brand, create new partnerships, and drive traction to the $OUIX token and Ouinex exchange."
The primary purpose of the utility token would be to provide discounts on trading fees. Further, the exchange will allocate a portion of the tokens to a protection fund to be used as safety for clients' assets. The token holders can also stake their holdings and will have a voice in decisions relating to products and trading functionalities.
Though the exchange initially planned to launch its ICO in the first quarter of 2023, it is now delayed.
"The reality is we are not in a rush, and timing is key for this initiative," Larbi added. "As we speak, a private pre-sale round for the $OUIX utility token is live, exclusively opened for privileged partners that have been supporting Ouinex from the start."
He further revealed that more than 1,000 active traders had completed their KYC requirements for the token sale, and that is in less than 72 hours from opening the strategic round. So far the average investment is EUR 2,083 per person.
However, the development of the crypto exchange is still ongoing. The team is finalizing the "last stretch of… technology behind the exchange, as well as fine-tuning the front-end GUI" and is estimating to launch services in Q1 2024.
A Strange Time for an ICO
The exchange decided to go for the token launch when the ICO market was almost nonexistent. Also, a series of fiascos in the crypto industry forced venture capitalists to look away.
"The level of disruption blockchain possesses can only be slowed, not stopped. So while I think regulatory crackdowns may be a short-term hindrance to growth, long term, this industry will produce trillions of dollars of economic value and enormous impact globally," said GDA International's CEO, Michael Gord.
"VCs and institutional investors will want to see how the dust settles amidst all these regulatory concerns in the short term, but long term, they will absolutely want to be invested into the disruptive economic potential that blockchain technology and Web3 offers."
The French Base
Ouinex, co-founded by seven former forex and securities industry executives, chose France as its base. It was a strategic decision as the team has experience in France and Europe's capital markets sector.
However, France and Europe are not the only markets Ouinex will target. Moreover, the crypto exchange platform will be available in Africa and globally.
"We chose Ouinex because their team is refreshingly traditional, with deep exposure in Europe, which has no clear exchange winner, and in Africa, which is currently a wide open market," Gord said.
"I think the Web3 space is lacking a lot of these founders and executives with a track record in traditional industries. So we were really impressed with Ouinex's leadership, track record, and their mindset of approaching crypto with a more traditional lens. I think because they embrace regulation, this exchange has the leadership and product excellence to become a global onramp for digital assets."
This article was written by Arnab Shome at www.financemagnates.com.
Ouinex, a crypto trading platform tailored foractive and professional traders, has announced a strategic alliance withCrossover Markets, an institutional trading venue specializing in spotcryptocurrencies. The collaboration heralds a milestone within the cryptosphere, as Ouinex integrates Crossover's electronic communication network (ECN)technology, known as CROSSx.
CROSSx: Reshaping Digital Asset Trading Dynamics
Ilies Larbi, the CEO of Ouinex, expressed enthusiasmregarding the partnership: "By partnering with Crossover Markets andharnessing their state-of-the-art technology, we are propelling ourselvesforward in delivering a unique and exceptional trading experience to ourclients."
CROSSx, heralded as a revolutionary ECN fordigital assets, brings unprecedented speed and customization capabilities toOuinex's trading infrastructure. Leveraging ultra-low-latency, quote-drivenmatching technology, and intelligent order routing, CROSSx distinguishes itselffrom the prevalent Central Limit Order Book model dominating the currentcrypto landscape.
Anthony Mazzarese, Co-Founder and the ChiefCommercial Officer of Crossover, conveyed his sentiments, stating:"Crossover is privileged that our flagship product, CROSSx, has beenchosen by Ouinex as the liquidity backbone for their highly anticipatedlaunch."
"Both Ouinex and Crossoverrecognize that active and high net worth traders globally are underserved, withmost exchanges catering solely to retail users, offering rudimentary technologycoupled with high fees. Ouinex's emergence comes at an opportune time with a productthat aligns perfectly with market needs, and we are thrilled to contribute ourliquidity to this dynamic new platform," Mazzarese added.
Exciting News from Ouinex!We're thrilled to announce our strategic partnership with @crossover_mkts , integrating the innovative CROSSx ECN technology to revolutionize your trading experience. This collaboration marks a significant milestone in the crypto industry, setting a pic.twitter.com/En1Waep5wQ
Ouinex (@ouinex) February 6, 2024Ouinex Secures VASP Registration from Polish FinancialAuthority
Finance Magnates reportedthat Ouinexstrengthened its regulatory footing pre-launch with its first Virtual AssetService Provider registration from the Polish Financial SupervisionAuthority (KNF). The move preceded its imminent ICO and aligned with itsroadmap's Q4 2023 target. Larbi emphasized compliance with Europeancrypto regulations, aiming for expansion across the continent.
Ouinex plans African market entry and seeks a BTC provider license in ElSalvador. Strategic partnerships and a $2 million token pre-sale highlightedits fundraising efforts, alongside collaborations with entities likeInteractive Trading.
This article was written by Tareq Sikder at www.financemagnates.com.
Ouinex, an upcoming cryptocurrency exchange, is strengthening its regulatory position before launch as it recently received a Virtual Asset Service Provider (VASP) registration from the Polish Financial Supervision Authority (KNF), Finance Magnates has learned.
Ouinexs First Regulatory License
The Polish license is the first regulatory authorization obtained by the company, which is days ahead of its initial coin offering (ICO). The license also came as planned, as the company, in its roadmap, estimated to obtain the Polish registration by the end of the fourth quarter of 2023. The registration in Poland is also strategic as the company aims to expand in the European markets.
The VASP registration in Poland is a great achievement and a first step in Europe for us, as we anticipate the implementation of the European Regulation on Crypto Assets (MiCA) at the end of 2024, said Ilies Larbi, the CEO and Founder of Ouinex.
Embracing regulations is key for Ouinexs operations and users; we are working hard on securing additional licenses within the EU and internationally.
A Crypto Platform by FX Executives
Ouinex, co-founded by seven former forex and securities industry executives, was incorporated in 2022 in France, which was chosen strategically to be its European base. Earlier, the company revealed that it will tap the African market as well. Furthermore, its roadmap shows plans of obtaining a BTC provider license in El Salvador.
Over the past two years, the focus of Ouinex has been in fundraising and other partnerships. Last year, it raised $2 million in the pre-sale of its native token. It also partnered with Interactive Trading, a France-based trading academy hosting a community of 150,000 active traders. That strategic partnership extended to an undisclosed investment in Ouinexs token.
According to the companys roadmap, it will launch the beta version of its exchange in the ongoing quarter of 2024, along with plans to launch the exchange in the next quarter. It additionally plans to offer crypto derivatives products outside the EU in the third quarter and staking services by the end of the year.
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This article was written by Arnab Shome at www.financemagnates.com.World Crypto Global opens the door to digital freedom for everyone.
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