The last decade has seen a massive paradigm shift in the global crypto trading scene. The space has unveiled several new and emerging markets for crypto trading platforms, and the trend is only rising. One of the companies that caught the growing trend is ByteX – a Canadian-based crypto exchange that is venturing into the international market and going global. After establishing a solid footing in Canada’s B2B crypto trading space, the platform is set to provide B2C retail crypto lending services, facilitate earning interest on crypto portfolios, and investing in crypto indices.
The Inception of ByteX:
The platform is the brainchild of two co-founders, Robert Balazs and Sayan Roy, and was born over a casual dinner conversation. The concept came to fruition in August 2021, and in no time, the founders built their B2B exchange. ByteX was Canada’s only exchange that allowed users to generate several wallet addresses simultaneously according to preferences. The platform also offered insured wallets to its B2B clients, which further built its credibility. The exchange’s weekly trade volume has surged fivefold (5x) since its debut in October. Both Robert and Sayan saw the growth as an opportunity to turn ByteX into a global household name.
Robert Balazs and Sayan Roy Gathering the Bytes:
Robert’s expertise in strategic management, executive leadership, and financial services is the basis for ByteX to offer consumers a line of credit (LoC), so they can borrow against their digital assets. Furthermore, with Robert’s hands-on experience in implementing processes and systems that create efficiencies and eliminate redundancies, the ByteX platform will make great use of such skills when offering its retail services.
Sayan equally keeps ByteX’s wheels turning. An engineer by profession and entrepreneur by passion, Sayan is a stern believer in the crypto space and a hedonist crypto investor. He often refers to Bitcoin as “the holy grail of crypto.” After graduating from Queen’s University, Sayan worked as an automation and design engineer for one of the largest theme park projects in the world. His journey in crypto began when COVID struck the world. Sayan started by creating a token on the TRC-20 blockchain when Breathe Medical Manufacturing reached out to him, where Mr. Balazs was the CEO. That’s where he met Robert and started discussing cryptocurrencies. These discussions evolved into ideas, and ideas evolved into ByteX.
The Core of ByteX:
By combining its existing crypto exchange services with offering crypto loans to investors, earning interest on their crypto portfolios, and managing their crypto indices to encourage theme-based crypto investments, ByteX is ready to expand and take on the global crypto market with great success.
ByteX Extending Service to Retailers:
While serving the Canadian market, the founders realized that the customers in the retail sector were being underserved when it came to earning decent interest on their money deposited in centralized exchanges. ByteX aims to extend a line of credit (LoC) to crypto investors and help people retain their assets by giving them an alternative to selling.
With ByteX, Robert and Sayan aim to enable people to participate in the global cryptocurrency movement using a simple and user-friendly platform that brings the fragmented crypto market together.
