Garuda Airlines: Eterbase Exchange Takes to the Sky


Garuda Airlines is an Indonesian airline that travels everywhere from China and Australia to Thailand and Malaysia.

Their in-flight magazine, available on every flight, is a premium magazine read by 900,000 professionals, entrepreneurs and more every month.

Eterbase Exchange recently featured in this magazine which is currently flying around the globe as we speak.

You can find the article that is on all Garuda flights here.

Below is the article for you to read on The Daily Chain.

The era of the digital asset is well and truly upon us with Bitcoin championing the way, and the entire cryptocurrency market place swelling towards mass adoption in just a few short years. With this adoption of the base technology and the digital assets has come the growing digital asset exchange ecosystem.

Cryptocurrency exchanges have become the gateway to digital assets, and because of this, there is a great need for them to become the bridge between the blockchain token world and the traditional institutional financial space. Looking to be at the forefront bridging these two worlds is Eterbase, an EU compliant digital asset exchange that offers the fastest and most secure API within the space. 

Fast and secure

In the world of trading, few things are valued more than speed, efficiency, and safety. Eterbase, the Slovakian-based exchange, boasts a purpose-built fast and secure trading infrastructure that competes, and bests, many other cryptocurrency trading platforms. 

Eterbase has noted that trading in the cryptocurrency space is affected by heavy bouts of volatility and times of deep buying and selling, depending on market movements. It is times like these that other exchanges have slowed and stuttered, leaving customers frustrated.

To solve these issues, Eterbase has structured their exchange to be robust, scalable, and flexible, and for its entire architecture to maintain its speed regardless of the load. This ensures that users always have access to their funds and their trades.

Speed in trading is essential, but even more important is safety and security, as well as compliance when it comes to cryptocurrency – a space that is still finding its feet. Etherbase is committed to addressing cryptocurrency safety concerns, as well as remain regulated and compliant within EU laws and regulations, such as GDPR, AMLD4/AMLD5. 

A study has shown that compared to Eterbase, 69 percent of crypto exchanges have insufficient KYC procedures implemented, and only 26 percent comply with AML law requirements.

Eterbase has worked hard to ensure that it is fully compliant with EU laws, regulations, and financial rules, separating itself from other exchanges that have tried to skirt the financial rules and regulations. They are also working to make sure their financial offering is fast and secure and that their own native cryptocurrency, the Eterbase token (XBASE), operates within the legal realms.

Eterbase also takes its security seriously with a unique partnership with Darkpool Liquidity allowing the exchange to use two separate hashing algorithms (SHA-256 & HMAC) when signing private API requests, which compounds the security level above all other exchanges. 

In addition, account ID and secret keys are required on top when making requests, which makes it almost impossible to access user accounts without being authorized properly.

The Team and Backers

Eterbase prides itself on an experienced and dynamic team. The leadership of the company has been working in wealth management, investment banking, as well as IT leadership. These leaders of Eterbase are now taking that financial and technological expertise and applying it to the ever-evolving blockchain and cryptocurrency space. 

Robert Auxt, the CEO, Founder, and Vice Chairman of the Board, brings his financial knowledge at the pinnacle of the leadership team as a former board member of the European Investment Bank, as well as hedge fund manager.

On the technical side of things, Eterbase has Martin Smutny heading up operations as the CTO, Co-Founder, and member of the board. Martin was part of the team that implemented the well-regarded e-government in Slovakia and has 15+ years of IT leadership experience. 

Driving business development is Tomas Pristac, the CBDO, and Chairman of the board. Tomas brings 10+ years of experience within the wealth management, investment, and financial services industry, which adds a lot to Eterbase’s drive to be a true financial institution.

Additionally, backing the exchange in its goal to become a fully fledged financial service is investment firm ZMJ SICAV, a.s. as the entity regulated by Czech National Bank. Eterbase will be working closely alongside ZMJ SICAV, a.s. investments  as they find themselves soon to be headquartered in a new building, in the financial hub of Bratislava, alongside the investment firm by June of 2021.

Eterbase is also looking to expand staff in the near term but their sights are also set long term by sponsoring the Slovak Technical University Cryptonomics Program to assist with education, and to increase the awareness of young people in blockchain technology.

Driving adoption

As part of their push to help increase the adoption of cryptocurrencies into the more traditional arena, Eterbase has also launched a Treasury Gateway to accelerate the wider adoption of crypto through the facilitation of business to business transactions with the traditional industries. 

The need for businesses to transfer their fiat currencies to cryptocurrency through trusted and sound exchanges continues to grow, and Eterbase is uniquely positioned to help.

Thanks to their monetary license from the Majestic Omnibank Payment Platform, Eterbase treasury clients will be able to open a corporate payment account and receive a direct Majestic IBAN for European Single Euro Payments Area payments.

Further in driving the adoption of cryptocurrency, for individuals as well as businesses, Eterbase offers negative trading fees for its Premium members. Traditionally, there is a trading fee split for makers and takers, but within the premium membership for Eterbase, there are no fees to trade, and in fact, clients can earn up to 50 percent of the generated trading fees.

Ready for the next step

The way in which finance is changing; the way in which cryptocurrency is entering the conversation; all this change can only be affected by enterprising agents who can facilitate the move forward. In the past, exchanges used to be the only option to move fiat and cryptocurrency around. Now, the expectation is that cryptocurrency exchanges have to become full financial services. Eterbase is aware of this and is positioning itself to be at the forefront of this movement. They have grown their stable of offerings and products to cater for every iteration of the modern trader, buyer, investor, and saver. 

More Eterbase content on The Daily Chain:

Eterbase Exchange: What Are Negative Trading Fees?

BlockFyre Coin Reviews: Eterbase

Q&A — Robert Auxt, Founder & CEO at Eterbase

Eterbase Launches The Treasury Gateway

Introducing Eterbase Premium Memberships

The Daily Chain
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*Disclaimer – Eterbase are our Media Partners and therefore this content is sponsored by them. The fees paid by this project are used to pay for The Daily Chain salaries, dev work, hosting services, travel expenses etc.. that are required to make this company a success and continue to provide the community with great content on a daily basis.

Alex Smith
Alex is the Founder of The Daily Chain and has been in the space for just over two years. Fascinated by the community and everything that blockchain has to offer, Alex dedicated himself to creating content and contributing back to the industry.

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