Hindustan Media Ventures Ltd has taken the lead in a recent pre-series A funding round for Aqex Technologies India (Aqex), contributing approximately USD 7.5 million to the funding pool.
Aqex is on the cusp of launching Aquarius Exchange, a world-class cryptocurrency trading platform in South Asia (with major focus in India) later this year. The company has a technology partnership with Aquarius Financial Technologies UK, who is also a shareholder. Furthermore, Aqex has established a strategic partnership with CQG, a globally renowned name in trading technology. CQG provides the necessary infrastructure support for the exchange.
With the launch of Aquarius Exchange, the platform aims to bring professional trading technology to the virtual digital asset markets in South Asia. Aquarius’ revolutionary proprietary matching engine was created to solve existing issues in crypto trading such as high fees, unreliable platforms, and poor infrastructure. With a matching capacity scalable in excess of 100 million transactions per second (tps), Aquarius Exchange is amongst the fastest platforms in the industry. In addition to the revolutionary technology, Aquarius will offer a 0% trading fees across all pairs, which should bring significant cost benefits to routine traders. They have introduced a subscription fee-based model that offers unlimited trading across all pairs.
“We expect Aquarius Exchange to transform the crypto trading industry. Professional and high-frequency traders will finally have technology suited to their requirements in this industry. We are committed to bringing complete transparency and compliance in all aspects of the business. Association with a respected media conglomerate such as HT should further aid in significant synergies in terms of our brand building and awareness creation endeavours”, said Surajit Chanda, Director of Aqex Technologies India Pvt. Ltd.
"South Asian digital asset markets, particularly India, have tremendous growth potential, and we anticipate Aqex to play a significant role in their development. With its cutting-edge technology capabilities and unique algorithms, Aqex is in the best position to offer its users a reliable, secure, and seamless trading experience.. As per current estimates India has approximately 15 – 20 million crypto investors with assets valued around US$4bn and I expect the ownership to increase exponentially as the regulations around crypto ownership become clearer. We share Surajit and Rupali's vision and look forward to the exciting journey ahead," stated Anirudh Singhal, Strategic Investment Head at Hindustan Times.
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