HedgeBase partners with Science Blockchain to simplify and secure OTC trading
HedgeBase’s solutions are the first to allow OTC desks, exchanges and banks to simplify trading to just two clicks, and it gives users a single login to use across blockchains, which allows users to stay in full control of their keys
LOS ANGELES — March 12, 2019 — HedgeBase, which builds simplified, secure and white-labeled trading solutions for over-the-counter desks, exchanges and banks, is proud to announce the release of a public beta for its flagship product, OTC Experience. HedgeBase is proud to be partnering with Science Blockchain, the blockchain-focused studio from Science Inc., for this launch.
OTC exchanges own users’ assets, and users cannot access them because they don’t have the private keys to unlock them. This can make users feel at risk when trading on OTC exchanges. The alternative for users — trading with OTC desks — is manual and not secure. Some OTC desks have had to rely on Skype and Telegram to send contracts in excess of $1 million.
HedgeBase models the evolution of trading digital assets as three overlapping phases.
Naturally, the first and most convenient vehicle was the exchanges, centralized or decentralized. For many years now, exchanges have faced theft of funds from hackers who found the enormous aggregation of assets in the exchange wallets an inviting target. The second, more secure and less convenient model is peer-to-peer over the counter trading. The third and final destination is merely an extension of peer-to-peer trading, where OTC transactions are automated without much human intervention.
HedgeBase’s flagship product, OTC Experience, overhauls the archaic operations at OTC desks.
OTC Experience is a plug-and-play solution that simplifies cross-chain and ERC20 asset swaps like never before. The innovative solution reduces most transactions to two clicks, supports BTC, ETH, XRP, XLM and all ERC20 tokens, all while exponentially increasing security standards in comparison to exchanges used today.
To ensure security, HedgeBase uses cryptographically sealed contracts in an on-chain and off chain capacity for every transaction. This provides trustless trading between OTC desks and high net worth individuals using cryptographic proofs. With a single click, contract transactions are fulfilled simultaneously, eliminating the need for trust.
Key management is a significant hurdle for blockchain adoption. HedgeBase has built a frictionless experience with the end user in mind, while upholding a strong commitment to client-side cryptography to avoid the failings of the overwhelming majority of crypto exchanges.
HedgeBase’s OTC Experience allows users to ask the OTC desk to store an encrypted version of their keys. The encrypted keys are unlocked using the user’s password, which is known to the user and the user only. Users can also choose not to store their keys.
“We believe in a peer-to-peer trading future and we do just that, and we do it well. Our vision is to make trading digital assets and derivatives convenient without users having to worry about security,” said Rawad Rifai, co-founder, CEO and CTO of HedgeBase. “Our solutions have been developed in stealth for two years, and by partnering with Science Blockchain, we’re super-charging our growth to bring innovation to OTC desks, exchanges and banks both in the US and globally.”
HedgeBase products are designed to be a self-contained, yet integrations with existing KYC and SSO systems are made possible. All HedgeBase products are plug-and-play and intended to be up and running in a matter of minutes. HedgeBase’s rich and homogenous suite of products kicks off today with three fully developed initiatives:
- OTC Experience: OTC Experience: Swapping assets atomically across blockchains is a challenging task. OTC Experience is an end-to-end solution to trade a growing list of digital assets and fiat currencies, starting with US Dollar, Bitcoin, Ether, XRP and XLM. OTC Experience swaps encapsulate the intricacies of all blockchains and provides one unified API for any OTC desk.
- ERC20 Swaps: + ERC20 Swaps are planned to become part of one full OTC Experience for cross-chain and ERC20 swaps.
- Options: The first white-labeled solution for trading Call and Put options for any underlying asset using the same uniform protocol. The product implements a fully decentralized peer-to-peer protocol. All options contracts are settled in ERC20-compliant assets, which includes USD-pegged tokens such as JPM and USDC. Options supports any off-chain order book with minimal integration.
“HedgeBase takes a complicated, manual trading process and makes it simple and secure with a solution perfect for large financial institutions, financial services businesses, or OTC exchanges,” said Greg Gilman, co-founder of Science Blockchain and Science Inc. “We’re thrilled to be partnering with HedgeBase to bring their solution to market. HedgeBase is precisely the type of forward-thinking and disruptive company we aim to partner with and invest in at Science Blockchain.”
HedgeBase is headquartered in Santa Monica. For more information visit hedgebase.io.
About HedgeBase
HedgeBase is a Santa Monica-based company disrupting the blockchain space in Southern California after operating 2 years in stealth. HedgeBase is the first white-label solution provider aiming to modernize operations for OTC desks, Exchanges and Banks in one overhauling solution. HedgeBase solutions implement a mix of AWS cloud and the blockchain to streamline and secure digital asset trades while providing an experience superior to existing Exchanges. HedgeBase architecture advocates individual ownership of keys while making it easier to access and unlock them. For more information, visit https://hedgebase.io.
About Science Blockchain
Science has been helping entrepreneurs build successful businesses for more than six years, during which time it has funded or founded more than 85 companies, and has had $1.3B in aggregate portfolio company exits. Science Blockchain, the first startup studio in the world to be funded by its own tokenized compliant securities offering (token: SCI), intends to continue this history of successful company building by helping incredible blockchain entrepreneurs create and scale the software giants of the next century. We do this in three primary ways: 1) partnering with promising early stage blockchain ventures, 2) engaging on a very limited and selective basis, with companies looking to take advantage of the possibilities presented by tokenized economies, and 3) investing in compliant private offerings of blockchain businesses. The unique token structure of SCI allows us to distribute 70% of the total tokens that Science Blockchain receives through our incubation and investment strategies directly to the SCI token holders. For more details, please visit https://www.science-inc.com/blockchain.html.
Disclaimer: This document contains certain forward-looking statements, relating to Science Inc.’s business, which can be identified by the use of forward-looking terminology such as “promising”, “plans”, “anticipated”, “will”, “project”, “believe”, “forecast”, “expected”, “estimated”, “targeting”, “aiming”, “set to”, “potential”, “seeking to”, “goal”, “could provide”, “intends”, “is being developed”, “could be”, “on track”, or similar expressions, or by express or implied discussions regarding potential filings or marketing approvals, or potential future sales of product candidates. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated or expected. Science Inc. is providing this information as of the date of this document and does not assume any obligation to update any forward-looking statements contained in this document as a result of new information, future events or developments or otherwise.
