MoonX plans to launch its operations by next month-end

MoonX, Switzerland-based technology startup and a platform for trading crypto assets, is planning to launch its operations from India by the end of next month.

Company officials told presspersons that MoonX plans to introduce decentralised non-profit trading platform for crypto currencies.

It is a unique exchange platform that allows members to collectively participate and contribute, and in turn be rewarded with Moon Money, the very own coin of Moon X, equivalent to shares and voting rights within the company, said Nithin Palavalli, founding Chief Executive.

The company will have development centres in Bengaluru, London and Beijing and there are also plans to start an office in Kerala, considering the NRI population especially in West Asia. The exchange will charge one of the lowest brokerages and offer nanosecond response time of 10 million transactions a second.

In the first year of operations, MoonX is targeting 5 million customers across the world, said Tony Lee, founding chief controller. After crypto currencies, MoonX also plans to begin trading in Treasury bills, foreign exchange and commodities.

Started by a group of investment banking experts, MoonX has raised $29 million for its operations. It aims to take the block chain technology to the next level with its application in agriculture, financial technology, education, food safety and healthcare.

The trading platform can be accessed online by registering and creating a login Id, and uploading credentials for KYC and AML to prevent and protect users from unauthorised transactions.

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