March 27, 2019 – Blockchain company MergeCommit unveils its white-label solutions for multi-tenant virtual currency exchange platform called Andromeda. MergeCommit positions it as a system where multiple exchanges can be launched in one platform.
On March 21, 2019, MergeCommit officially unveiled multiple products it was working on in the past year. Of particular note is Andromeda, a system that allows one owner to launch their own cryptocurrency exchange. According to the company, they will take care of the setting up process, which, according to CEO James Florentino, shall take a maximum of 30 days.
As a white-label solution, any owner can fashion Andromeda into their own design or theme, while they all take advantage of a shared order book between all exchanges running on the Andromeda platform. This allows the new owner to have immediate liquidity in their exchange. MergeCommit promises to handle the backend while the owner takes charge of marketing, operations, etc. Features of Andromeda includes a fast order matching engine, blockchain network integration, secure cold wallet storage, token standard support, and 24.7 tech support that guarantees 99.99% uptime.
“Launch your own exchange without getting burdened by huge upfront costs. Ideal for ICO projects on a budget. Cost-efficient annual subscription rates”
Because the exchanges powered by Andromeda are connected with one another, an order processed in Exchange 1 can be fulfilled by Exchange 2. For example, if there is an order for 1 ether in Exchange 1 for Php 7,000 and there is no one willing to trade Php 7,000 in that particular exchange, it can still be fulfilled if someone at Exchange 2 or 3 (and so on..) are willing to do the trade. This ensures liquidity across all exchanges running in the Andromeda platform. (Read More: The Best Cryptocurrency Wallets to Use in the Philippines)
Andromeda is not the only product that MergeCommit debuted during the event. Another product, Tadashi, is a tool that allows merchants to immediately accept tokens as a payment method. It comes with a wallet application that allows an owner to white-label it/ customize it to their own fashion. It also comes with a POS for Android and iOS that merchants can accept to issue invoices and accept payments.
Andromeda runs on a Software-as-a-Service model, which MergeCommit things is fair particularly to clients especially those on a budget.
For Andromeda SaaS model, one of the part of it is; we are creating a network of exchanges and all SaaS clients will be part of this network. If the client has their own token and want to be listed in more exchanges, they will be in direct contact of other exchanges through us. We will be helping them connect and support each other. – Eren Kereci, Marketing and Sales Officer at MergeCommit
Next is Cerberus, MergeCommit’s end-to-end DLT consulting and solutions development services. Simply put, businesses that are interested to integrate blockchain in their operations may employ the services of MergeCommit, who will walk them from blockchain information consultation up to actual blockchain solutions product or service developed for the client. Once the product is finished, MergeCommit commits to providing after-sales support to help maintain the product.
Of course, running a cryptocurrency exchange will mean that certain permits from the government have to be secured. Particularly for clients in the Philippines, MergeCommit will provide support by referring clients to lawyers familiar with policies and regulation regarding cryptocurrencies and blockchain in the country.
BitPinas staff was invited on the MergeCommit’s Andromeda Product Launching last March 21, 2019. Check out the Andromeda Platform here.
This article originally appeared on BitPinas: MergeCommit’s Andromeda Platform Allows You To Set Up and Run a Crypto Exchange in 30 Days
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