‘We are building a provably honest trading platform’: TDXP’s Armen Azatyan joins More Than Money

‘We are building a provably honest trading platform’: TDXP’s Armen Azatyan joins More Than Money

More Than Money seeks to look at the other side of digital currencies—trading and speculating, which is often neglected in the BSV community. In its latest episode, one of the minds championing digital asset trading on the Bitcoin SV blockchain, Armen Azatyan, shared why he believes BSV is blackballed by the exchange cartel, how his belief in Dr. Craig Wright brought him to BSV, why he doesn’t like to be associated with decentralized finance (DeFi) and more.

Azatyan is the founder of TDXP, a derivatives exchange built on Bitcoin SV. Users can access the platform via their RelayX or Money Button wallets and among its biggest innovations is that traders don’t have to deposit funds to start trading.

Most critically, TDXP is built on the Bitcoin SV blockchain. One of the benefits is that traders have full access to their data and audit it at will. In the near future, the platform will start encrypting all user data, Azatyan said. And if Facebook can make billions trading users’ social network data, TDXP users should be able to make money trading their financial data as well.

“Our goal is to scale beyond BSV and to attract people who don’t know what BSV is or people who don’t know what is cryptocurrency in general,” Azatyan told host Patrick Thompson. “TDXP is meant to bring traditional traders onto blockchain because they don’t even need to know the name BSV. As Dr. Wright very often says that it’s a plumbing and that’s basically the very same idea here.”

TDXP’s features have seen it labeled as a DeFi app often, but Azatyan was quick to dissociate the platform from the sector. He believes DeFi has gone the ICO way, where too many projects labeled themselves as ICOs, including the scammers. This soiled the original good intention of ICO issuers.

Similarly, DeFi is quickly losing its good name in the face of scams and rug pulls, he pointed out.

As Azatyan builds a provably honest and auditable trading experience for traders on Bitcoin SV, he acknowledged the irony in that BSV has been one of the most dismally-performing digital currencies.

“Frankly speaking, I don’t know a worse performer than BSV pricewise,” he observed. He attributes this to, among others, a collective blackballing of BSV by the exchange cartel. Platforms like OKEx, Coinbase and Bitfinex all work together, sharing liquidity and data. They have a big say on which digital currencies shoot up through their arbitrary listing and delisting processes.

As we’ve seen in the past year, these exchanges aren’t big fans of BSV, with Kraken and Binance leading a delisting campaign that saw millions denied access to the digital currency. Jesse Powell and Changpeng Zhao, the founders of the two exchanges, weren’t shy in revealing that their actions were solely motivated by their dislike of Dr. Craig Wright.

“They just don’t like Craig Wright because he tells the truth and there’s nothing we can do about it at this point,” Azatyan acknowledged.

However, he said the BSV community shouldn’t focus its energy on trying to change their minds.

“If we think too much about the BSV price and about getting into these liquidity groups, getting friendly with them, then we will just de-focus and we will just distract our attention from creating real value and real products,” he stated.

One area that Azatyan believes BSV will make the biggest impact is in online native products such as iGaming, where BSV is already making major strides. BSV startups must also focus on emerging markets, with Armen revealing that TDXP is targeting Indonesia and India with its products.

Before founding TDXP, Azatyan had a long career in investment banking and stock trading. He then started trading digital currencies and would later come to meet Dr. Craig Wright, who he claims is the reason he’s building on Bitcoin SV. TDXP was initially on Ethereum, then migrated to Bitshares, then went to EOS before it landed on Bitcoin SV.

“That’s how I got involved in BSV, because Dr. Wright was actually the only person who made sense to me since 2016. He was just so authentic, so real, so true that I followed him since then and that’s how I ended up here [in BSV],” he said.

New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.

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