Politics 2022-11-15T05:03:05+02:00
Ukrainian news
A new Ukrainian crypto-exchange was presented in Ukraine - Qmall

A new Ukrainian crypto-exchange was presented in Ukraine - Qmall

В Украине представили новую украинскую криптобиржу Qmall. Фото: rbc.ua
В Украине представили новую украинскую криптобиржу Qmall. Фото: rbc.ua

On Wednesday, November the 3rd, the new Ukrainian cryptocurrency exchange Qmall was presented.This was done by the co-founders of the project, Nikolay Udyansky and Bogdan Prilepa.

RBC-Ukraine writes about this, referencing Bohdan Prilepa’s statement during the BlockchainUA conference in Kiev.

As Prilepa said, the creation of an exchange is a complex process that is stretched out over a long period of time.

"Prof-IT has thoroughly approached this issue, and therefore the development of the exchange took more than three years. It is based on a unique technical solution developed by us, tested on other trading platforms that appear in the TOP 100 CoinMarketCap rating.  Now, we are using it in our Ukrainian project," he explained.

Nikolai Udyansky then emphasized that the new crypto-exchange is not only a complex, but also quite costly project.

“We have invested more than $ 3 million in project development over these four years. This is a commercial product that we decided to implement within Ukraine. I’m sure it’ll find its audience, because there are only two other slightly similar projects in the market besides us - and this hardly counts as competition” he added. “We are unique in our international experience and solutions that we have improved for more than 3 years, we also have 10 thousand terminals from our partner, Ibox Bank, in Ukraine. No other exchange in the world has such a network."

The reason for the creation of the Ukrainian crypto-exchange was the risks taken when using foreign exchanges. An example would be the constant cases of freezing of user accounts where people can’t even access their money. It is thus difficult to resolve legal issues due to the distance, depending on the legal sector of the country where the exchange is registered, and it is also extremely expensive. It is imperative that the exchange be Ukrainian with an official representative and support service.

"This is an additional guarantee of safe investment and safe work with cryptocurrency in Ukraine, especially if the exchange operates in the legal field," the partners emphasized.

Another level of security will be the verification of each user and the customary multi-level authentication for users.

Note that Nikolay Udyansky is a well-known Ukrainian IT businessman who is included in the top 100 richest Ukrainians of 2021 according to Forbes. Bogdan Prilepa is the CEO of the newly created exchange Qmall, and has previously launched many blockchain startups and cryptocurrency exchanges that are included in the top 100 exchanges on coinmarketcap.


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