Buying and selling cryptocurrencies in a decentralized and secure way controlled by an automatic clearing system
Cryptoeconomy is about to face a paradigm shift. Moving from Wild West to a civilised financial reality can be a matter of months.
What’s holding the market back from transformation is simply the logistics of the exchange process. Due to its complexity and uncertainty the vast majority of people prefer to stay away from it.
Platform for direct fiat and crypto exchange with advanced protection mechanisms, tailored for people with practical needs rather than robots and profiteers.
User can plug all of his external payment instruments into EXWAL: bank accounts, credit cards, fiat and crypto wallets. It’s easy to manage everything in one place.
User can create new crypto accounts within EXWAL. Commission for internal transfers is ZERO. When using external account, commission depends on the institution
To manage users’ fiat accounts EXWAL will operate as PISP/AISP* or ‘PISP-like’ provider, adhering to the highest standards of security and privacy to protect users’ data.
*Payment Initiation Service Provider/Account Information Service Provider (PISP/AISP) models come from Payment Service Directive 2 (PSD2) in Europe. Similar concepts exist in other markets.
EXWAL quotes common market price, which is valid in current auction round. During one round user is allowed to post one buy or sell order at a quoted price. EXWAL automatically matches buy and sell orders at the end of an auction round and informs the user if his order is accepted for execution. Only after that the execution is launched.
Order posting and execution are not simultaneous. Passing fiat though the conversion path may take time depending on security policies and intensity of trade. But each order’s execution is guaranteed by EXWAL, so waiting time is totally stress free. Crypto-part of the transaction is blocked until the fiat part is settled in full. The execution progress can be checked via the dashboard.
Security policies always include certain limit settings for amount and frequency of individual transactions. To ensure these limits EXWAL can split any fiat transaction into a multitude of smaller transactions and pass them through other accounts within the user’s circle of trust before the money reaches its final destination. No need to worry about dozens of simultaneous debit/credit transactions: thanks to EXWAL algorithms user’s activities look completely normal.
EXWAL is operational 7/24 across all time zones. Platform’s community consists of like-minded individuals, who are looking for a way to buy or sell crypto with maximum efficiency and minimal cost. The community becomes stronger with every new member. The stronger the community, the more possibilities and security each member gains.
Each user can create his own security policies to interact only with trusted counterparts within comfortable boundaries. Circle of trust can include all members in given city, clients of the same bank, friends on social networks, etc. This makes user’s transactions 100% transparent: no need to explain where the money comes from.
Between any 2 users, one willing to buy and the other willing to sell, EXWAL can construct a chain of "friends" to pass through the wire. Each member in this chain will interact with his circle of trust only. Money will pass through this conversion path providing required level of comfort for all participants.
Members’ external accounts with deposited funds will be used by EXWAL when constructing the conversion path. Each time member’s funds participate in pass-through transactions, he gets a fee. The frequency of possible transactions can be adjusted to earn a higher interest on blocked deposits. Everyone can take part in the game even without actual trading.
The London Gold Fix hasn’t changed much in the past 100 years. Since 1919 dealers from London's five biggest bullion banks are establishing a common transaction price for
a pool of orders worth 20 Trillion-a-year.
The Gold Fix establishes the price close to stock rate. At this level the amount of buy orders matches the gross amount of sell orders across all the participating banks. When buyers and sellers are not in balance, the Chairman adjusts the price manually. In brief, the same idea underlies EXWAL auction mechanics.
EXWAL smart algorithm analyses the balance of buy and sell orders, intensity of trade and prices from external platforms to come up with current market price. The price is fixed for a certain time frame, which makes trading more convenient for basic transactions compared to classic book of orders or DOM.
We don’t look for single equilibrium price. Preferences are continuously changing as new information enters the market. Setting the auction price is like shooting at a moving target. Our objective is to provide the quote, which is the best market price possible at this particular moment.
Seamless mobile experience is one of our top priorities. We’ve put significant effort into development of our mobile app so that it's easy to use and 100% intuitive. That’s one of the reasons for customers to pick EXWAL as a handy tool for their everyday crypto activity.
EXWAL (LTD) foundation and incorporation. Initial development of a cryptocurrency wallet with the prepaid debit card payout feature.
WEB application release and pilot testing, mobile apps development for iOS and Android platforms.
EXWAL becomes a geographically dispersed team with two product development offices and headquarters based in Riga, Latvia.
Launch of a fully-fledged product: crypto wallet with a prepaid debit card feature. Web and mobile applications (iOS and Android), 24x7 client support team.
Product re-launch: EXWAL becomes a mobile-centric crypto wallet with various exchange features available, supporting Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin.
EXWAL Crypto Exchange! New biz foundation. Roadshow with the new Decentralized Exchange concept. New product development begins.
EXWAL Exchange MVP welcomes its first users.
Launch of a totally reinvented Crypto Exchange model in Europe.
Aggressive business development and product evolution based on the customer-centric strategy and social fundamentals.
Master in Computer Science and Economics.
An entrepreneur in fintech: co-founder and adviser in several fintech start-ups, 18 years experience in product development. Internet banking development lead in the largest online bank in Europe.
Master in Computer Science, Master in Economics.
An entrepreneur with 15 years of experience in fintech and telecom business with strong IT and management background. Founder of first NEO bank in Eastern Europe.
Master in Physics.
Developer team lead in Top-3 telco. Full stack developer — over 10 years of software architecture and development experience.
Master in Computer science.
Blockchain and Cryptocurrency enthusiast. Full stack developer — over 10 years of software development experience
To keep EXWAL project running we’ve put together
a team of 15 fintech and software specialists, currently working in 3 offices, located in UK, Latvia and Russia.