The Seychelles-based project will enable users to place and manage positions on digital currencies, as well as futures on major equities indices and single stock futures, all in a decentralized way.
Counterparty and custodial risks associated with current cryptocurrency trading will be significantly mitigated while reducing latency and settlement times. The Leverj platform will be built on the Ethereum platform and powered by sophisticated smart contracts.
Leverj CEO Bharath Rao, a former Wall Street and GE Research veteran, said: “Enabling exposure to the top cryptocurrencies using only ether as the currency of settlement is an important market need. The ability to get exposure to the top tokens without the need to manage multiple wallets is highly appealing for speculation and hedging. The Leverj platform eliminates security issues with wallets and nodes of new tokens. Based on our research and customer demand, we have developed a modular, easy-to-use UX with trustworthy, reliable APIs that will make the exchange appeal to all traders. We expect to see ample migration from users of centralized exchanges.”