StellarX launched the first decentralized exchange with Fiat support and zero commissions

StellarX, a market for asset trading on Stellar, announced the launch of a decentralized exchange, which will offer users zero commissions and support for fiat currencies.

StellarX is launched-free trades, fiat onramp, all kinds of tokens! Still lots to do. But here's where we are going. https://t.co/BnHGwxD8E0

– StellarX (@stellarxhq) 28 September 2018

StellarX is a product of Interstellar , which was formed earlier this month after Lightyear Corp. has acquired a developer of block-based solutions for the financial industry Chain.

The new exchange offers the same functions as decentralized stock exchanges on Ethereum, like IDEX and EtherDelta; however, due to the unique consensus mechanism, it incurs commission fees for users.

However, the most notable feature of StellarX can be called the support of fiat currencies. Currently, the exchange supports transactions from bank accounts in the US through the Automated Clearing House (ACH) network, and further intends to add support for the euro, the Philippine peso, the Nigerian Naira, the Chinese yuan, the Hong Kong dollar and the British pound.

Also, given the difficult regulatory environment, StellarX enables issuers of tokens to require traders to undergo a KYC procedure before they have access to the assets.

In the future, the exchange plans to add support for accounts with the function of multi-signatures and tokens produced on other block systems, in addition to Stellar, as well as a number of other functions.

Earlier this week, the 0xProject team announced the launch of version 2.0 of the open protocol of the decentralized crypto exchange 0x based on the Ethereum blockbuster.

Subscribe to BlockchainJournal news on Twitter !