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In the
first half of this year, Victor Gherbovet, who previously collaborated with the
FX/CFD broker Admirals for over a decade, decided to launch his own
software-as-a-service (SaaS) technology company, FirstByt. Now, as Finance
Magnates exclusively learned, the company is introducing a white-label
solution for firms looking to launch their own decentralized cryptocurrency
exchange (DEX) within a few days.
FirstByt Launches DEX
White Label Solution on Solana, Eyes Multi-Chain Expansion
FirstByt
unveiled its
first products in April this year, though the company had been in
development for the past few years. Now, as Finance Magnates has
learned, the company is introducing one of the first DEX white label solutions
on the market, dubbed DexTrader.PRO starting with the Solana blockchain.
The
platform, which can be deployed in just 24 to 48 hours, offers a suite of
customizable features including SWAP functionality, limit orders, and
dollar-cost averaging (DCA) tools. As Gherbovet stated exclusively for Finance
Magnates, this fast setup time represents an important shift in an industry
where DEX deployments typically require more extensive timeframes.
“While
we’re starting with Solana due to its high-speed and low-cost transactions,
we’re actively planning to expand to other prominent blockchains like Ethereum,
Binance Smart Chain, and Polygon,” the FirstByt’s CEO and Co-Founder added.
However, the
move towards multi-chain compatibility is part of FirstByt’s strategy to bridge
the gap between decentralized finance (DeFi) and traditional finance (TradeFi).
“We’re
aiming to introduce decentralized money management features alongside
traditional financial instruments like Forex, commodities, and Indices,
creating a comprehensive solution for both crypto-native traders and those
transitioning from traditional markets.”
🚀 The future of finance is decentralized! 🚀We are on the cusp of a new era of innovation. The future is decentralized, and it’s being built today! If you haven’t already, now is the time to start investing in products and services that drive blockchain adoption.At FirstByt,… pic.twitter.com/dODyrMrIFc
— FirstByt (@first_byt) September 14, 2024
FirstByt’s
white-label solution offers customization options for businesses. These include
user interface personalization, feature selection, and the ability to set
custom commission and fee structures. “Our goal is to provide businesses
with the flexibility to tailor the platform to their specific needs while
leveraging our robust technology,” Gherbovet added.
Security also
remains a priority for FirstByt. The platform incorporates multiple layers of
protection, including smart contract audits, decentralized custody, and
encryption measures to safeguard users and their assets.
The launch
of FirstByt’s DEX solution comes at a time of growing competition between
decentralized and centralized exchanges. As the crypto industry places
increasing emphasis on security and transparency, DEXs are emerging as viable
alternatives to traditional centralized platforms.
Gherbovet is not the only former Admirals executive who decided to go independent this year. Previously, Bartosz Bielec, a market veteran with 20 years of experience, launched a new CFD business named Prime Quotes. Bielec had previously served as a long-time director and Board Member at Admirals and was also the Chief Commercial Officer at Alpari.
This article was written by Damian Chmiel at www.financemagnates.com.
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