Renowned Dubai-based cryptocurrency trading platform JPEX is on the move to up its crypto game as it continues to deploy necessary measures to expand its territories of operations further.
JPEX is on a mission to upgrade its website functions to improve its user interface constantly. This way, desktop and mobile users can enjoy better technological resources. Notably, the platform is regarded as a capital-rich exchange considering its massive wealth of global assets and technology worth more than $2 Billion. Its business activities are extended over Hong Kong, Malaysia, and Australia.
JPEX has taken a similar approach to other major cryptocurrency exchanges to maintain proper safety measures on its clients’ funds by offering PROOF OF CAPITAL RESERVES. The sole purpose is to alleviate traders’ concerns about the possibility of JPEX going bankrupt like FTX.
On-Chain Data on JPEX’s official website reveals that the exchange has two wallet addresses that contain roughly 9,000 Bitcoins (BTC). Moreover, several assets are secured in various cold storage locations, currently undergoing a third-party audit. Once the audit is completed, JPEX plans to issue an official announcement with additional information about these assets and a more detailed audit report.
While it has earned a groundbreaking presence in cryptocurrency, JPEX boasts multiple functions and qualities. The platform features relevant licenses, an efficient insurance mechanism, multiple signature cold wallets, a VISA payment financial card function, a JP Planet metaverse game, and a well-performing staking platform.
JPEX has been consistently seeking licenses related to the trading of virtual assets, including cryptocurrencies, since its inception. Presently, the exchange possesses licenses issued by regulatory authorities in Canada, Australia, and the United States of America.
The platform in Canada possesses the Canadian MSB Fintrac License, which governs businesses engaged in currency trading and exchange services, including other significant licences in nations like the United States of America (USA) and others. Furthermore, following its ability to provide an efficient insurance mechanism, JPEX is prepared to offer compensation to its customers in the event of legitimate fund loss, considering the declining state of the crypto market, high volatility, and the intricacies involved in the use of crypto wallets. As a protective measure, JPEX is able to provide a maximum of 75,000 USDT to each user.
Also, in its bid to counter the rising threat of cyberattacks that have resulted in billions of dollars being stolen through crypto wallet breaches, JPEX has taken extensive security measures. These include implementing multi-signature cold wallet technology to safeguard the storage of cryptocurrencies. Noting its operative performances since its establishment in 2020, it is worth saying that JPEX has emerged as one of the major forces in the cryptocurrency industry.