Switcheo Exchange, a Singapore-based decentralized exchange operating on the NEO and Ethereum blockchains, has announced the addition of a NEX/SDUSD market for the Nash Exchange (NEX) token. The listing comes on the heels of Switcheo’s March 25th, 2019 “restricted listing” of a NEX/NEO market, previously covered by NEO News Today, which has become the exchange’s highest volume trading pair.
Switcheo has prohibited the following regions from trading in its NEX markets: China, Singapore, Liechtenstein, and the United States of America, as well as those traders using a virtual private network (VPN).
Nash Exchange is an upcoming non-custodial (decentralized) exchange, registered in Liechtenstein, which plans to offer support for multiple blockchains and cross-chain trading. Its NEX token is a digital securities offering on the NEO blockchain. According to Nash, staking NEX tokens will grant the rights to a portion of the fees that are collected by Nash Exchange when it goes live.
Alchemint’s SDUSD token is a collateral-backed stablecoin on the NEO blockchain. The value of SDUSD is pegged to the US Dollar and is designed to hold its value through the mortgaging of NEO tokens in Alchemint’s smart contract.