Private exchanges are finally becoming a reality. A new private exchange dubbed Mandala has just been launched on Binance Cloud. Mandala aims to provide more security and faster transactions for traders.
According to the team at Mandala, the exchange can host about 264 assets. These assets would come in the form of 946 trading pairs, all getting liquidity from an order book.
Mandala also has an app, which traders can get from the Google Play Store or the iOS Store. The app gives real-time happenings of the market and allows trade execution. Users also get to monitor how major cryptocurrencies are doing and observe the charts for technical analysis.
Mandala has launched on Binance Cloud this week and is the first exchange to do so. Binance Cloud is a platform owned by Binance which allows crypto businesses to kick off their products. The new exchange takes advantage of liquidity, technology, and security.
Mandala’s chief technology officer Zach Daniels highlighted why the team chose Binance Cloud. Apart from the liquidity and security he also said Binance allowed them the use of the development resources.” The CTO also highlighted the benefits users would enjoy with Mandala. “We’ll be able to offer low fees, innovative features, and a sustainable ability to grow alongside our user base.”
What Mandala Plans to Offer
The crypto exchange promises to help traders be more certain about their trading with its services. Compliance, which is an important issue in cryptocurrency, is not left out. Mandala says it would focus on compliance while enhancing crypto adoption. The firm promises to cater to all investor classes, whether the user is a crypto beginner or an institution.
The platform is not just useful for traders, but also upcoming crypto companies. Mandala Chief Operating Officer Rich Howie says the company is ready to support new companies. It plans to do this by listing new assets or those under development on its exchange. Considering Mandala just started this year, this is a great move by the exchange.