NovaDAX launches BSV-EUR trading pair in Europe

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NovaDAX digital currency exchange has launched a BSV/EUR trading pair for its users in the European Economic Area. The exchange, which recently launched its services in Europe, will allow its users to make euro deposits and withdrawals via Single Euro Payments Area (SEPA) bank transfers.

NovaDAX launched its services in 2018 and in the past two years, it has grown to become one of Latin America’s most popular exchanges. Earlier this year, it started supporting Bitcoin SV, allowing millions of Brazilians to easily buy and sell the digital currency. The exchange is currently the only platform in the world where users can trade Bitcoin SV against the Brazilian real.

NovaDAX is now offering European users the same seamless platform that has made it wildly popular in South America, including the ability to easily buy and sell Bitcoin SV. As part of the launch, customers are also eligible to win up to €300 in BSV. 

Speaking to CoinGeek, NovaDAX CEO Beibei Liu stated, “Part of our mission is to bring innovation and diversification of investments in digital assets in the markets in which we operate. This implies educating and promoting these new options so that they are actually considered. Then, we promote educational content and exclusive promotional campaigns on an ongoing basis and it is working well for BSV.”

On why NovaDAX decided to venture into Europe, Liu pointed to the maturity of the European digital currency market. In addition to the trading platform, NovaDAX will launch digital currency payments and investment solutions in the region as well, Liu tells CoinGeek.

“We will continue to provide EU customers with comprehensive services in our digital asset ecosystem, including, but not limited to trading, investment and payment. More specifically, from the beginning of next year, we are developing a solution similar to the one we already have in Brazil, making it possible to use BSV and all other digital currencies for daily purchases and payments.”

One of the unique products that set NovaDAX apart is its prepaid digital currency card, the first of its kind in Latin America. Liu revealed that the exchange has been receiving thousands of applications from users for the card. The exchange will make the card available to its European customers in the near future.

“We tailor our services to the needs of our customers. We enable them to enjoy inter-connectivity between trading, debit, credit, and earning accounts for both digital assets and fiat currencies. They can enter the market with zero threshold, with the fiat converted into digital currency in no time, and vice versa. So far, most of the customers have used the card in online and offline payments as well as swiftly transferring funds between accounts for different financial needs.”

With regulators now becoming more concerned about the industry, NovaDAX has strived to be compliant in every jurisdiction it operates in. The legal entity of NovaDAX in Europe is authorized as an EMD agent by the U.K.’s Financial Conduct Authority. It also holds Account Information Service Provider and a Payment Initiation Service Provider licenses.

Liu told CoinGeek, “NovaDAX always respects, cooperates and strictly complies with local regulation. We actively cooperate with local banks in anti-financial crime practices.”

See also: CoinGeek Live panel on the Future of Exchanges & Trading in a Tokenized World