MaskEX is a next-generation centralized crypto exchange that aims to provide easy and secure access to digital assets for everyone. Founded in 2021, MaskEX is committed to empowering users globally and contributing to the growth of the crypto and blockchain industry by offering a wide range of innovative products and services to its users. MaskEX offers a user-friendly interface and advanced trading tools, making it easy for both novice and experienced traders to navigate the crypto market.
Q: MaskEX’s stated mission is to help build a “free economic system by providing the masses with financial anonymity and autonomy”. What will this free economic system ultimately look like, and why do we even need it?
A: It should be pretty clear to any student of history that while human progress is always ongoing, there are certain common themes and challenges that will keep returning. Freedom is one of these themes and should be of interest to us all – the freedom to make choices, design one’s life, build a family or develop one’s talents.
In this day and age, with the introduction of digital technologies, we are likewise seeing an explosion in possibility and the pace of progress is fast. But we cannot take for granted that each and every innovation will be good for us in the long run. We have to remain critical. When it comes to finance, bitcoin or blockchain technology, we face similar challenges once again. Are we looking to empower people through a culture of self-custody armed with so-called ‘hard money’, or do we double-down on a system that has so far only exacerbated global inequality?
This is not for MaskEX to decide. We are just one of many participants in this nascent industry but we take our role seriously. We want to at least enable people to have options. We allow for the easy purchasing of bitcoin and other digital assets, provide a wide range of markets for those who want to trade or speculate, we list Hong Kong and US stocks, offer a virtual debit card to make real-world payments, and MaskEX makes it easy to move between fiat and digital assets.
Freedom starts with having a choice. Where we go from here and where we ultimately end up remains to be seen, but I believe that moving towards a world that is borderless, where people can truly own their assets, transact value freely and have uninhibited exposure to opportunities is something we should all get behind.
Q: The crypto market has recently experienced heightened regulatory scrutiny and calls for increased oversight. How does MaskEX adapt to evolving regulatory requirements, especially considering the global regulatory landscape and potential impacts on user privacy and security?
A: MaskEX has a strong legal and compliance department and we do track all regulatory developments closely. Much of the ‘heightened scrutiny’ that you mention has come in the aftermath of Celcius, Three Arrows Capital, TerraLuna and FTX collapsing, but it also springs from a real recognition that bitcoin, crypto and virtual assets service providers are here to stay and can no longer be brushed aside as temporary anomalies in the fields of technology and finance.
Remember that bitcoin was specifically launched during the onset of the Global Financial Crisis, offering an alternative to – or at least a hedge against – arbitrary top-down fiscal policies, currency debasement, inflation, fractional banking and the reality of unequal access to basic financial services. By design, the digital assets and blockchain ecosystem that is emerging and gaining traction poses a threat to the status quo and while all exchanges and participants should be mindful of regulatory developments and the positions of such bodies as the SEC, it’s also important to stand for something, be committed to the principles that underlie our industry and protect what we believe is most important.
As I’ve mentioned before, everything should ultimately be supportive of human dignity and opportunity and that is the benchmark. With regards to privacy, security, financial autonomy and oversight: the ultimate way to balance these is not set in stone, but depends on communication, collaboration and industry-wide negotiation. This is the approach.
Q: MaskEX aims to provide a user-centric experience. In light of current market conditions, what steps is the platform taking to educate and support users, particularly those who might be new to the crypto market or experiencing market volatility for the first time?
A: MaskEX does not provide financial advice. We have, however, launched a few initiatives that are testament to our commitment to education. Firstly, we have launched a comprehensive learning environment under MaskEX Academy, where we regularly publish educational content in English, Arabic, Chinese and Vietnamese to provide more insight into topical industry issues, market developments and the various trends in the crypto space.
Additionally, we have launched MaskEX Labs, a subdivision of MaskEX focused on research, innovation and impactful partnerships. Just recently, on the 27th of June, MaskEX Labs published a research paper titled “Unravelling U.S. Government’s Bitcoin Seizures: Actions, Impact, and Current Holdings”. In this paper we take a closer look at the history of government Bitcoin seizures, the complexities around privacy and some of the implications for the digital assets industry.
We also host regular Twitter spaces to explore important topics in more depth – these sessions are less focused on trading and more about engaging our users and the wider community on important topics such as real inflation, stablecoins, the Bitcoin Lightning Network and so forth.
Lastly, we have more initiatives in the making planned for Q4 which will specifically be focused on empowering the youth, or Gen Z, specifically in the emerging markets which is something both our CEO, Eric Yang, and myself are very passionate about. Our goal is not to break things apart, but rather, in the context of widespread fragmentation, to re-imagine the world and build anew.
Q: As the Chief Strategy Officer of MaskEX, what are your predictions or insights regarding the crypto market for the remainder of this year? Are there any upcoming features, partnerships, or initiatives that you can share, which might shape MaskEX’s strategy in the near future?
A: Contrary to what was mistakenly reported in some mainstream media outlets, over the past few weeks, following the SEC’s cases against Binance and Coinbase, MaskEX has seen a very significant rise in the number of registrations and deposits on our platform, coming second only after OKX in terms of the inflow amount. This can be seen on Nansen quite clearly where we showcase our assets under management and reserves.
Source: https://foresightnews.pro/article/detail/34936
While investor confidence is only gradually coming back, my view is actually that we’ve entered the early stages of the Bitcoin bull market from the start of January, 2023. Now, come July, we’ve seen Bitcoin rise above its two-year realized price which is significant. Added to this, we’ve seen positive developments around the adoption of the Bitcoin Lightning Network by some prominent exchanges – and indeed, MaskEX is exploring this as well. We’ve seen El Salvador make more significant progress in terms of its strategic adoption of Bitcoin as legal tender, and last but not least, we cannot dismiss the recent applications by BlackRock and other legacy dinosaurs for the launch of the USA’s first Bitcoin Spot ETF.
While the latter does raise some questions (since it is a departure from the important principle of self-custody and doesn’t really bring the deeper benefits of Bitcoin to investors who seek exposure through an ETF), if other commodities such as gold can serve as a reference, following the launch of a serious spot ETF, there is a possibility that we can see this cycle stretch out with a significant price increase indeed. All in all, I do believe the rest of 2023 can see further uptake of bitcoin and digital assets. MaskEX is preparing and finalizing all the groundwork in this Q3 to handle the anticipated growth.
In fact, towards the end of Q3 we will be rolling out a set of highly competitive growth programs which are specifically designed to accelerate retail growth across the MENA, CIS and SEA regions. Up until now, MaskEX has mostly focused on building out infrastructure, refining our mobile application and serving bigger clients. I am convinced that the digital assets landscape will look very different by the end of 2023, and – if life permits – MaskEX will certainly be a significant player to reckon with in the years that follow.
About Ben Caselin
Ben Caselin is Vice President and Chief Strategy Officer of Dubai-headquartered Crypto Exchange, MaskEX. Focused on driving the mass adoption of bitcoin and digital assets, he is responsible for MaskEX’s global expansion efforts across business development, marketing and communications.
