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Interview with Katherine Deng, Vice President of MXC Exchange

CryptocurrencyApr 08, 2021 09:30AM ET
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Interview with Katherine Deng, Vice President of MXC Exchange

Bitcoin recently suffered a significant price hiccup as over $6 billion worth of options contracts expiration date was approaching. However, the price has performed far better than expected even as the expiration date came. The coin’s recovery has already started, and many assume it is due to institutional involvement. Some predictions say that Bitcoin might even start seeing government investments fairly soon, which will boost adoption stronger than ever before.

With millions upon millions of users already joining the industry due to surging prices, and more to be expected in weeks and months to come, it is more important than ever for investors around the world to have access to some of the best and most user-friendly exchanges that will be able to welcome these new users and help them find their way around in the growing crypto industry, such as MXC exchange.

MXC is a cryptocurrency exchange that was established during the crypto winter of 2018. However, the exchange started attracting a lot of interest recently, and its developers are all experts from financial firms and world-class enterprises. As such, they are highly experienced in blockchain and digital currencies.

As mentioned, the exchange has been attracting major interest lately, and it is licensed in 5 different countries — Seychelles, Switzerland, Australia, the US, and Canada. It has a rich selection of coins — over 370 of them — and more than twice the amount of trading pairs (over 750). Its daily trading volume is at around $4 billion, and as such, it managed to secure a place among the top 80 best and biggest exchanges on CoinMarketCap. Recently, it also announced a partnership with Solana Foundation and OKEX, to launch two new investment funds that would support the Solana ecosystem.

The crypto industry has experienced quite a difficult period recently. How did that reflect on MXC? (Might want to rephrase the question, as I doubt it can be considered as a “difficult period recently?” The answer below is fine though)
As always when there is strong volatility to be seen, there are those that are rapidly trying to sell, and those willing to buy the dip. This was no different. In fact, the price drop was rather mild, considering the worth of the expiring options, and the recovery started immediately after, when investors saw that there will be no great oversale.

This is largely thanks to institutional traders who rushed in to use the opportunity and buy the dip, so you could say that their strategy helped Bitcoin and the rest of the market find a foothold so quickly.

How many users do you have at the moment?
Currently, we have around 5 million users in more than 70 countries around the world. We are really proud of this milestone, but we definitely aim to become a go-to platform for new and experienced investors as we move forward.

What is the biggest selling point of MXC? What drives people towards your platform?
There are many things that attract users to our platforms. We have compliance licenses in five different countries, so our users know that it is safe to use our platform. We offer over 750 trading pairs at the moment, with a trading volume exceeding $4 billion. In addition to that, we offer spot and margin trading, leveraged ETFs, derivatives trading, and staking services.

Our team members have rich experience in blockchain and financial industries, hailing from world-class companies. There are plenty of options on the platform, and everything is being done in a safe and secure environment, which is what most people need in order to feel comfortable enough to trade. They know that they can trust us with their money, and we have never done anything to bring that trust into question.

Recently, you managed to secure a spot among the top 80 on CoinMarketCap. It is a big achievement with such fierce competition. How did you do it?
The industry is quite competitive, and it is pretty much impossible to break through without a plan. What we achieved — gaining user trust, licenses, listing various products, and more — all came through the hard work of our developers and team members.

We always try to be as transparent as possible with our customers, and set goals that are both, optimistic and realistic at the same time. The quality of service is our top priority, and as long as we can guarantee it, we are willing to experiment and bring new services, features, products, and alike. We have gotten far with this mindset, but we don't plan to stop here.

What products does the exchange offer?
MXC offers a more than 750 crypto trading pair available for spot or margin trading. We have ETFs that can be traded with leverage, offering standard, professional, and index trading versions. Then, there are derivatives contracts, and PoS pools.

Most of these come in standard and professional versions, so that we can satisfy the needs and capabilities of novice traders and professionals alike. Everyone is welcome at MXC, and they can easily find what they need in a way that they can understand it.

Which are the most popular pairs on the platform?
Most of the time, it is BTC/USDT pair, which often sees volume beyond $40 million. After that, our native MX Token paired against USDT usually holds second place, followed by the likes of Ethereum Conflux Network, Dora Factory, Ramp, and many others, typically paired against USDT. There are some high-ranking non-USDT pairs, such as MX/ETH or ETH/BTC, but USDT pairs typically hold the majority of the top 10 list when it comes to volume.

Recently, MXC announced the partnership with OKEX and Solana Foundation. Can you tell us more about it?
We joined hands with Solana and OKEx to launch two investment funds that will bring another $40 million of new capital to Solana's ecosystem. The plan is to use this capital to accelerate the development and growth of some of Solana's key projects. Our team will provide support for Solana-based dApps and projects and help them ensure their future success and survival.

Our goal has always been to foster close collaboration with some of the most promising blockchain ecosystems, and Solana's potential definitely puts it high on the list of projects we are interested in supporting. After all, Solana saw over 50 market-ready projects launched in the last month alone, which opens up plenty of new opportunities, and we wish to be there to ensure that these and future projects will get everything they could ever need to thrive.

How will MXC help the Solana ecosystem grow?
Our primary purpose in this partnership will be to provide support, new capital, and help speed up the growth and development of the best projects emerging in Solana's ecosystem. Starting a new project and taking off is difficult under the best conditions, let alone in a highly-competitive and extremely volatile industry such as crypto.

We have seen many projects with potential fail just because they lacked the resources or they launched at the wrong time. By selecting the key projects, we will not only help the crypto industry advance and bring new use cases, but also Solana's ecosystem itself, which will become that much richer and more prosperous with every strong, competent project that finds its foothold as soon as possible, and starts to grow.

When you have a good project, all you need are the right conditions, and success is all but guaranteed. Solana has good projects, and we are coming to provide the conditions.

What can you tell us about the new investment funds that you plan to launch?
There will be two of them — two strategic investment funds, that will bring a total of US$40 million of new capital. ( Just 20 million investment fund excluding Okex’s) These will essentially be our contribution that will fuel the growth and expansion of the projects — go-to-market resources for protocol and dApp development.

How will MXC benefit from the partnership?
The investment sets forward our belief and commitment to shepherding the success of the dApps and platforms built on Solana. Solana will be the first step for high-quality blockchain projects that could help revolutionize not only the crypto industry, but all other industries that they may be focusing on.

Working strategically with the Solana team ties in naturally with our own vision and market position. We don't need more than that to make the right move. Simply put, by helping Solana, we are helping its projects, and through them — the future of financial and other industries that these projects aim to touch and improve.

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Interview with Katherine Deng, Vice President of MXC Exchange

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