DX.Exchange, a crypto and tokenized securities trading platform, has announced it is ceasing all its operations just nine months after going live, the company unveiled yesterday on its official blog.
The cryptocurrency exchange, whose headquarters are in Estonia and which uses Nasdaq’s matching engine and market surveillance technology, has decided to shut down while it waits for a merger or sale.
The announce says:
"The costs of providing the required level of security, support and technology is not economically feasible on our own."
All deposits and trading activities have been blocked, and users have till November 15 to withdraw their funds from the platform. In order to do so, they will have to "email its support team with a copy of their government ID used for the initial signup, the wallet address and amount for each asset they are withdrawing, a selfie of them and a paper with the date and the words 'DX.Exchange'."
The announcement also states that if the exchange does not receive any merger or acquisition offer, it will cease all its operations permanently.
Let's remember that the platform went live in January and offered both crypto trading and tokenized securities.
iHodl reported in March the exchange had just announced the launch of its own security token and the possibility of adding this type of assets to the platform.
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