Ukrainian centralized exchange moves to global expansion track, plans to release metaverse

A Short History Of The Metaverse

Centralized exchanges were once just the intermediary between buyer and seller; now, they’ve evolved to become the turning point in ensuring consumer security, diverse asset availability and, in modern cases, access to the metaverse.

Centralized exchanges (CEXs) have come a long way since they came onto the cryptocurrency scene, now becoming the most widely used platform for buying and trading digital assets. However, since their inception in 2010, exchanges have evolved significantly; their teams are now working with regulators, auditors and user experience specialists to develop institutional and public trust in blockchain technologies and their underlying cryptocurrency assets.

Although originating as trusted intermediaries, these platforms have proven to be much more, delivering value in their guarantee of consumer security and protection while also opening the door to the host of new tokens being released to the public. In more modern occurrences, some of these platforms have been extended even further as the foundation for launching new applications and accessing the metaverse.

QMALL, a brand created by an international group of companies headquartered in Ukraine, has risen to the challenge with the release of its own centralized exchange. The QMALLexchange, which has proven its value in enhancing the process of payment and accounting for cash, is now transitioning from a regional offering to a global one.

The team attributes this modern phenomenon to the platform’s ability to deliver convenience, the right marketing and adherence to strict promises of fulfillment. To this day, the strategy continues to be executed by the exchange’s founders, Mykola Udianskyi and Bohdan Prylepa.

Despite strong competition with Asian exchanges, QMALL presently has more than 150,000 active traders, just three months after their launch. QMALL is now creating its own metaverse, with the launch expected by the end of the year. The platform plans to take on a new direction as the first metaverse exchange of its kind.

A fast track to global expansion

To achieve a regulated status, QMALL is registered as UAB QMALL in Lithuania, where it is recognized as a Virtual Currency Exchange Operator and Depository Virtual Currency Wallet Operator in accordance with the Ministry of the Interior of The Republic of Lithuania.

With these licenses, QMALL effectively gets the green light for the exchange to expand into the eurozone. As a part of this global expansion, QMALL will soon be adding trading pairs that include the euro while also adhering to strict laws on transparency, data security and reporting set in place by local laws. The combination of these factors is said to boost overall confidence in the brand. Founders believe that enabling trust in this manner will encourage an influx of users from Europe, increased interest in the exchange from crypto projects and, consequently, explosive demand for the project token.

Alongside appropriate licensing, the team has partnered with Sophia Antipolis, Europe’s leading technology district and the French equivalent to Silicon Valley. Sophia Antipolis is now home to more than 2,500 companies across 2,400 hectares, where it hosts numerous startups and major global brands.