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NuMoney Exchange

NuMoney Exchange

Created using Figma
NuMoney is a cryptocurrency exchange with markets denominated by local currency and major coin pairs. With banks like DBS shutting down local exchanges, we have decided to build our own exchange without a need to deal with banks. This is achieved by having full reserve deposits in which we would be required to keep the full amount of each depositors funds in cash, ready for immediate withdrawal on demand.
Nov 1, 2017
Jan 31, 2018
100% completed
Raised funds - no Data
past
Token Details
Ticker
NMX
Company Details
Registered Country
Singapore
Additional Details
KYC
Yes
Categories
Platform, Cryptocurrency

About NuMoney Exchange

Born out of frustration over our inability to purchase cryptocurrency conveniently, we started NuMoney as an over-the-counter service. Running NuMoney's OTC service was straightforward:

  1. Acquire a cryptocurrency liquidity provider
  2. Fund our account via wire transfers
  3. Resell cryptocurrency at a spread In the first 2 months, we crossed S$1.2M in turnover.

In the first 2 months, we grew so rapidly that the points of failure became naggingly obvious. Neither banks nor liquidity providers appreciate high-volume, rapid movements of cash. Particularly so if you run a cryptocurrency startup. So we soon encountered problems with both the liquidity providers and our banks. Nevertheless, this fast growth demonstrated a huge demand for cryptocurrency in Singapore. For us to satiate this demand, we have to eliminate these points of failure.

Features

  • Service of verification
  • Trade coins including alt-coins
  • Cash deposits and withdrawals via our physical store
  • No daily limits for local users; high daily limits for international users
  • Documented GraphQL API for developers

NuMoney Exchange Roadmap

  • February 2018

  • Launch Testnet NuMoney Exchange that works with Ropsen testnet
    Launch NuMoney Exchange
    IEO launch

  • March 2018

  • Bitcoin and Litecoin added to NuMoney Exchange

  • April 2018

  • Ripple added to NuMoney Exchange

  • May 2018

  • Monero added to NuMoney Exchange

NuMoney Exchange Team

Verified 0%

Attention. There is a risk that unverified members are not actually members of the team

Steven Goh
unverified
Bach Le
unverified
Benjamen Lim
unverified
Lee Weiping
unverified

NuMoney Exchange Last News

N/A
5.0 11
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