Bye Bye Binance: BSV Supporter Vows To Build His Own Exchange
Crypto exchanges are lining up to delist Satoshi’s Vision, but at least one exchange will continue trading. Jack Liu, founder of multi-currency payments app Relayx, has teamed up with OKEx to build a new marketplace devoted to the Bitcoin Cash fork.
The new exchange, dubbed Float SV, will be built atop the OKNodes Program, a white label solution that allows developers to build their own exchanges on OKEx technology. According to Liu’s announcement, Float SV will only support SHA256 blockchains, like BTC and BCH, and “real” assets such as commodities and currencies. The exchange will not support any other blockchain, securities or STO’s.
OKEx has not taken sides in the feud between Binance and Craig Wright, and has publicly stated that it will not delist BSV.
FloatSV is not the first collaboration between Liu and OKEx. Liu previously served as Chief Strategy Officer at OK Group, the holding company of OKEx.
“[I]t is great to be back leveraging OK’s trusted and scalable exchange infrastructure with which I am very familiar with” Liu said in the announcement. “Float SV can count on OK’s track record of being a neutral technology platform.”
Although the latest wave of exchange delistings is likely to cause a dent in the market cap, adherents to Satoshi’s Vision are likely to continue fighting. Jimmy Nguyen, CEO of nChain, dismissed concerns that falling prices could lead to hashpower attacks against BSV.
“We’re not worried about it,” he told Crypto Briefing. “Exchange delistings are irrelevant to the overall security of the network.”
The #DelistBSV movement will likely continue to cause ripples, as one exchange after another removes the controversial fork. Although Float SV is unlikely to replace Binance for trade volume, it may provide a final egress when other exits have closed.
Paddy Baker contributed reporting.
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