“Cryptocurrency will be legal in China, when they prove their safety and obey authority”, says Aries Wang co-founder of Bibox
Bibox is one of the world’s largest cryptocurrency exchange. Started back in 2017, the Estonia-based cryptocurrency exchange has achieved an impressive 24-volume of $170 million. The exchange has more than a million registered users.
We at Blockmanity had a chance to catch up with the Co-founder of Bibox, Mr. Aries Wang. Mr. Aries Wang started Bibox Exchange in 2017. The exchange really took off during the Bitcoin bull run.
Blockmanity: How did you get the idea of starting a cryptocurrency exchange? There are many players already, how does Bibox plan to compete with all of them?
Wang: To be honest, I had a simple goal of letting more people know more about cryptocurrency, gain access to them, and share the joy of them. Moreover, at the time, cryptocurrency was a rather untapped territory with unlimited possibility.
I think in a way, all early industry players share the same vision and now the industry has boomed with a bit of chaos. Bibox will strive to stay safe, stay transparent, stay honest and humble, and stay at the forefront of the industry.
Blockmanity: What Differentiates Bibox from other Crypto exchanges?
Wang: Bibox always stays in the front line capturing market’s real needs and bringing in various crypto products and services to satisfy users’ increasing demands in digital asset investment with a great deal of consideration in the regulatory landscape.
For example, we constantly observed crypto/traditional institutional investors’ growing interests in digital assets. So we initiated BiboxEurope more on the comprehensive role of a financial service provider supporting fiat to crypto brokerage and featuring multiple fiat currencies including GBP, USD, etc, to help investors experience the crypto world in a more satisfying way. We chose Europe because we have acquired blockchain business permission from Swiss regulatory authority and backed by a major Swiss bank. We aim to be the most reliable crypto service platform in Europe.
Another example would be BIX bonds facing to both institutional and retailing investors issued in last year during the bear market. We felt bonds could be a good alternative choice for investors in the bearish market. It turns out we successfully satisfied the market’s real needs. Clients who participated in BIX bonds last year gave us a very positive feed back. As space matures and the market grows, there are more user-oriented functions/products on-boarding. Though I cannot disclose too much right now, I can say Bibox team have a strong passion and belief in the enormous potential of utilizing digital assets in real- life scenarios.
Blockmanity: What’s your plan in the cryptocurrency space?
Wang: First, Bibox focuses on our user experience and we are having a major update to perfect it. Second, we will support new technology in cryptocurrency and blockchain. Third, we are working on expanding crypto’s (including our native token – BIX) use- cases. Fourth, we will provide both institutional investors and retail investors with more finance product and services.
Blockmanity: Do you plan to add more crypto assets to Bibox?
Wang: Of course we will. Quality tokens are the bloodline of any exchange and Bibox whole heartedly welcome all projects to apply. The industry is rapidly growing, and we‘d love to stay on top of it and bring Bibox users the best and the most exciting token projects.
Blockmanity: If you could add any cryptocurrency right now…what would you choose?
Wang: If I name one crypto, it would be unfair for the other many high-quality tokens. Our listing standard will never change, as we make it very simple and candid. As we just discussed, good reputation, high quality, real use-case, and some other good points are always something Bibox will vouch for.
Blockmanity: Do you think China’s cryptocurrency situation will improve? Will it becomes legal there?
Wang: Whenever cryptocurrency can eventually prove its safety and obey authority is the day it will be admitted in China. I wouldn’t use the word “improve”. When thinking of China, most people think about the regulations and policies, but I think we must take population into consideration. China is a huge country, it makes much sense that the policymakers are cautious. Blockchain technology is very much embraced and I have a positive outlook on the issue.
Blockmanity: Bitcoin or Fiat…who do you think will be the winner in the next 10 years?
Wang: I’m a believer in cryptocurrency. It’s never easy to predict what exactly would happen in the future. 10 years ago, we wouldn’t even dream of paying everything with our phone and Bitcoin was hardly known. Now we are very used to contactless payment and Bitcoin is in major news with major players learning and speculating. It survived with its core philosophy, concept and technical structure. It is 2019, and Bitcoin is growing, getting known, and it is proven indestructible. Of course, I’m not saying that fiat currency has a grim future, it is always my belief that when people stand together to make things better, things will get better.
Blockmanity: What’s your favorite cryptocurrency?
Wang: BIX – Bibox’s native token! We are working on expanding BIX’s use scenarios. Now BIX serves as an intermediary for trading discounts, rewards, incentives and bonds collaterals, etc. Next step, BIX will be utilized by everyone in their daily life. Grab your BIX now 🙂
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