Malaysia offshore Labuan-based Trust company, Financial Fortress Advisors Ltd, has officially launched its digital asset quantitative trading platform, WeDream Exchange (WDX), on 20th March 2021.
The Artificial Intelligence quantitative trading-based platform will allow the mass public to participate and trade in cryptocurrencies, while fully utilizing the power of crowd wisdom consensus and AI quantitative algorithms.
WDX will provide a platform to turn untradeable or low trading volume tokens, into a highly traded digital asset in the crypto market while achieving a healthy and sustainable ecosystem, where everyone will stand to benefit.
WDX chief executive officer, David Tan said yesterday that since its trial launch from 8th March 2021, the platform has more than usd50 million trading value while daily transactions have grown to an average of more than usd10 million.
Based on the "wisdom of crowds", the platform presents a huge opportunity for the company to grow its presence in a large market of low trading volume tokens, allowing it to build volume and liquidity, scaling the exchange, and shape crypto trading in a way that has never been seen before, he said.
On Wall Street, the "wisdom of crowds" refers to the theory that large groups of people collectively are smarter than any individual expert when it comes to forecasting where stocks are headed. When investors expect a company to report higher profits, they tend to bid up the price of its stock. On the other hand, the GameStop Reddit saga demonstrated how retail investors worked in concert to drive up the price and force institutional short sellers to exit their trades.
Mr. David said: " With increasing adoption globally, we expect to see more users and token issuers turning to our platform's digitized quantitative trading method as their primary mode of crypto-trading, and more investors building portfolios that consist of diversified digitized investment products with lesser volatility. WDX is a new generation of cryptocurrency exchange and 2021 will be the year of blockchain innovation with crowd consensus quantitative trading as the key to success."