India's Top 100 Digital Stars 2023

DIFX: A true Cross-Asset trading platform

DIFX is a cross-asset trading platform where users can trade virtually anything from gold to stocks to bitcoin

Published: Feb 1, 2021 04:39:50 PM IST
Updated: Feb 1, 2021 07:02:53 PM IST

DIFX: A true Cross-Asset trading platform
With Bitcoin’s all time high, blockchain and cryptocurrency companies are back in the limelight this year. Tech entrepreneur and host, Nikita Sachdev, sat down with one particular project that is revolutionizing the way we trade digital assets. DIFX is a cross-asset trading platform where users can trade virtually anything from gold to stocks to bitcoin.

1. Where did you come up with the idea for DIFX?

As a multi asset trader all my life and venture capitalist, I had a few competing ideas in financial services that I toyed around with. After investing in digital assets back in 2017, I found it an inconvenience to switch between digital and traditional assets such as commodities, forex, stocks and indices. The initial idea was for a new kind of platform which can offer multi assets trading, but after getting the right team of people on board, who are leaders in their respective fields of banking, technology, marketing  and fund management, we initiated the development of the cross asset platform wherein cryptocurrencies can be used to trade traditional assets with cross pairing between all assets.

2. Mr. Kataria, what is your background in the crypto space?

I have over 14 years of experience in financial markets, investment banking and fund management, and have been associated with the foremost global financial service organizations while being involved with several startups ranging from fintech to AI. In addition, I am a financial strategist for large Family offices in the Middle East and Southeast Asia for crypto investments.

3. What is the vision with DIFX?

We want to create a new financial order, wherein digital currency is used for direct settlement between the payer and the receiver. Our platform will help millions of unbanked individuals use digital currencies due to the simplicity of its use.

We plan on leveraging blockchain technology to make remittance services accessible and to add value to our customers for auspicious use of digital assets. We will reduce settlement time and provide efficiency while exchanging along with immutable ledger records and a high-security transaction network.

4. What is a cross asset exchange? How is DIFX different from other exchanges?

A cross asset exchange allows users to trade across various asset classes. Our asset classes include stocks, indices, cryptocurrencies, forex, and commodities.

DIFX is changing the trading landscape completely. Users can trade virtually all trading classes, from coffee beans to cryptocurrencies to stocks. In addition, the DIFX ecosystem offers three dimensions: the exchange, multi-currency wallet services and cross asset trading.

5. We already know how unique this product is as a one stop shop for all assets, but how did you manage to get the regulation to do so?

For the past 18 months we have been working on a global company structure through our legal and compliance team who are blockchain industry experts with more than 15 years of experience. To date we are based in Singapore, UAE, Cayman Island, Estonia and Mauritius for our technology company, EMI licence, token issuing company, exchange licence and security dealer licence with underwriting. Going forward we plan to obtain an E-Banking licence from the EU and Hong Kong along with a security dealer licence from FCA UK.

6. What are the future plans for DIFX?

We are creating  a disruptive, scalable, and sustainable revenue model. Over the next 18 months we will create a hybrid working model of a cross-asset exchange with more than 1800 cross pairs between cryptocurrencies, commodities, forex, stocks and indices between centralized and decentralized exchanges with atomic swaps.

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