In today’s edition of Crypto Daily News, we’ll cover the details of the SpaceX engineer’s new crypto exchange and what Zimbabwe’s Finance Minister said about crypto lately.
Crypto Daily News: September 17th, 2018
Former SpaceX Engineer Starts a Crypto Exchange
Joshua Greenwald, former SpaceX engineer, is currently the CEO of LXDX and the company just announced that it is launching its own public digital currency exchange.
LXDX currently holds its own proprietary software that’s focused on levels of performance not currently seen in the current crypto market. LXDX offers a low latency solution for crypto traders that allows its users to post tighter bid-ask spreads, which in turn facilitates better-priced trades for the entire cryptocurrency market.
Greenwald explained his company’s vision in the official press release by saying:
“The mission of LXDX is to make capital markets better. Our immediate focus is on cryptocurrency and enabling every investor to utilize the exclusive tools, like smart order routing, that only institutions previously could access. When we built top tier infrastructure for traditional markets, our team solved many of the same problems facing cryptocurrency exchanges today. We are excited to bring a higher caliber of technology to cryptocurrency investors everywhere.”
Zimbabwe Finance Minister Speaks Up
Mthuli Ncube, Zimbabwe’s new finance minister, thinks that his country should embrace cryptocurrency and Bitcoin the way that Switzerland does, IT Web Africa reported this morning.
“One can pay for travel using bitcoin in Switzerland. So, if these countries can see value in this and where it’s headed, we should also pay attention. We have innovative youngsters so the idea shouldn’t be to stop it and say don’t do this, but rather the regulators should invest in catching up with them and find ways to understand it, then you regulate it because you now understand it.”
Zimbabwe continues to face cash difficulties, as the country has faced recent political upheaval and years of economic turmoil. Many of the country’s residents started placing their money into Bitcoin (BTC) last year, due to the steep inflation in its own country. Currently, the banks in Zimbabwe have placed stringent withdrawal limits on its residents.
The new minister believes that his country will fall behind if the Reserve Bank of Zimbabwe (RBZ) does not look at the world around it, to see how it’s evolving.