As blockchain technology accelerates its penetration into the financial sector, a product called XBIT (DEX Exchange) has recently become a hot topic in the international cryptocurrency community. With its unique on-chain settlement mechanism and user privacy protection solution, the platform is regarded by the industry as a benchmark for the next generation of blockchain App ecology.
Twitter : @XBITDEX
According to Bloomberg Crypto Channel today, XBIT (dex Exchange) announced a partnership with the Swiss Financial Market Supervisory Authority (FINMA) to become the first DEX protocol to pass the EU's "Markets in Crypto-Assets Act" (MiCA) pre-examination. This move marks the first time that XBIT (dex Exchange) has been included in the mainstream financial regulatory framework, and users can directly participate in compliant asset transactions through blockchain apps. In this regard, the technical director revealed in an interview with CoinDesk: "Our goal is to combine the autonomy of XBIT (dex Exchange) with the stability of traditional finance.
Through zero-knowledge proof technology, when users complete transactions on the App, the system automatically generates on-chain certificates that meet tax reporting requirements.” According to Lianhe Zaobao, the Thai Ministry of Finance launched the “Digital Baht” pilot project today and selected XBIT (dex Exchange) as the underlying settlement network. The project allows citizens to complete cross-border remittances, tax payments and other operations through the government-developed blockchain app, and transaction fees are 87% lower than traditional systems. Analysts pointed out that this reflects the strong demand for XBIT (dex Exchange) in emerging markets.
Twitter : @XBITDEX
On the technical level, the XBIT team submitted the V2.0 protocol upgrade plan to GitHub today. The new version introduces three major innovations: 1. Hybrid liquidity pool: integrating CEX order books and DEX automatic market makers (AMM) 2. Anti-MEV attack engine: protecting the rights and interests of blockchain App users through transaction obfuscation algorithms 3. Multi-chain asset gateway: supporting one-click cross-chain of 12 mainstream public chains such as BTC and ETH. "These upgrades allow XBIT (dex Exchange) to reach 2,400 transactions per second in throughput, an increase of 18 times over the current industry average." Chain data analysis agency Messari emphasized in its latest report.
In the hearing materials submitted by the US SEC to Congress today, it was mentioned three times that "XBIT (dex Exchange) should be vigilant about its regulatory blind spots." However, XBIT's legal counsel told Reuters that the platform has reserved a special fund of US$20 million to deal with compliance reviews in various countries. Through the data from the Coin World Network, we can also see that the native token of the XBIT platform has increased by 34% in 24 hours, and the on-chain lock-in volume (TVL) has exceeded US$720 million, ranking among the top five in the DEX field. Industry observer Forrester Research Institute's chief digital asset analyst said: "The success of XBIT (dex Exchange) proves that the value of blockchain apps lies not only in the technology itself, but also in creating financial tools that meet real needs. When users can safely manage cross-border assets on their mobile phones, the Web3 revolution will truly begin."
Twitter : @XBITDEX
