Bakkt Removes Polygon From Its Platform, Could You Trade MATIC On This New Hybrid Exchange?

Bakkt, a New York-based crypto exchange for institutional investors, has announced that it will join other centralized exchanges (CEX) to remove Polygon (MATIC) from its platform. The announcement comes after SEC deemed MATIC a security in a crackdown attempt on crypto exchanges. Meanwhile, crypto traders have an alternative to trading MATIC, with Tradecurve, the new hybrid exchange making waves.

  • The popular derivatives exchange, Bakkt, has removed MATIC from its platform.
  • Bakkt’s general counsel and secretary, Marc D’Annunzio, has said Plolygon will remain delisted until there is regulatory clarity.
  • Meanwhile, investors will still be able to trade MATIC on a new hybrid exchange, Tradecurve, because it operates on a decentralized structure.

Bakkt Announces the Delisting of Solana

The popular New York-based derivatives exchange for institutional investors, Bakkt, has announced that the company has removed Polygon (MATIC) from its platform over the recent classification of the crypto as a security by the Securities and Exchange Commission (SEC). Bakkt now joins other centralized exchanges (CEX), including eToro and Robinhood to delist Polygon (MATIC) since the asset was deemed a security.

Why Did Bakkt Remove Polygon (MATIC)?

Bakkt is a centralized exchange, meaning that the company holds the digital assets of its users and places trades on their behalf. This means that if Bakkt continues listing MATIC (which is now a security) on its platform, the company can also be sued by the SEC for the unregistered offering and sale of securities.

To PRevent this from happening, Marc D’Annunzio, the general counsel and secretary at Bakkt, announced that Polygon (MATIC) would be removed from the platform until regulatory clarity is achieved. He adds that the company will offer a more extensive list of digital assets after regulators PRovide clarity on the classification of cryptocurrencies.

Traders Move to Tradecurve As Will Offer MATIC and More Assets

As a hybrid exchange, Tradecurve retains the best Features of centralized and decentralized exchanges (DEX). The decentralized aspect of Tradecurve will allow the hybrid exchange to offer Polygon (MATIC) because its users are given complete control of their digital assets and PRivate keys. Because Tradecurve would not hold or place trades on behalf of its users, the hybrid exchange cannot be charged with unregistered offering and sale of securities.

Another DEX feature present on Tradecurve is the discard of KYC requirements that are part of centralized exchanges. This will allow users to be able to register on Tradecurve using only their email addresses. This means they can trade in absolute anonymity from anywhere they are in the world without restrictions to their accounts.

Being a hybrid exchange also means Tradecurve retains the high liquidity levels and excellent user experience of centralized exchanges to create an all-around trading platform. Tradecurve is also big on transparency and will implement an industry-leading Proof-of-Reserve (PoR) infrastructure.

Experts have PRedicted that with these Features, Tradecurve will challenge the likes of Binance and Coinbase for the top crypto exchange spot. Currently, the PRoject is in its fourth phase and the native utility token of the exchange, TCRV, is now valued at $0.018.

Visit the links below to get more information about Tradecurve and the TCRV token:

Click Here For the Website

Click Here To Buy TCRV Presale Tokens

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Disclaimer: This content is informational and should not be considered financial advice. The views exPRessed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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