Cambodia Investment Review
Royal Group Exchange (RGX), the only ‘regulated’ cryptocurrency trading platform in Cambodia, has gone live with its peer-to-peer (P2P) trading feature. This innovative development marks a significant milestone in Cambodia’s cryptocurrency landscape, positioning RGX as the country’s first regulated platform offering P2P trading capabilities. The new functionality aims to streamline the interaction between traders by facilitating a more direct and efficient means to engage in cryptocurrency transactions.
The launch of the P2P feature on RGX enables Cambodian traders to access the blockchain space more seamlessly. It provides a user-friendly interface that simplifies the process of finding and connecting with other traders based on specific transaction needs, thereby removing the necessity for intermediaries. This approach is expected to reduce transaction costs and increase the efficiency of the trading process.
Must Be ‘Verified’ By Platform By Posting In Platform
At the heart of RGX’s P2P crypto exchange is the utilization of blockchain technology to automate and secure transactions. This system allows traders to initiate transactions by creating or accepting offers in a secure environment. RGX emphasizes the importance of security in its platform, implementing advanced encryption technologies and adhering to strict industry practices to protect user information and assets. A notable feature of RGX’s approach is the requirement for merchants to be verified before they can post advertisements, ensuring a safe and trustworthy trading environment for all users.
The introduction of P2P trading on RGX is offered free of charge to users, with the platform opting to impose a fee on advertisers instead. This model aims to balance the cost implications for all parties involved, ensuring a fair and equitable trading experience.
Thomas Schings, General Manager of RGX, shared his insights on the launch: “The introduction of P2P trading on RGX represents a significant advancement in our mission to enhance the trading experience for our users. As Cambodia’s first regulated P2P crypto trading platform, we are committed to providing a secure, efficient, and user-friendly environment for traders. This new feature embodies our dedication to fostering direct connections between traders, thereby facilitating growth and success in the cryptocurrency sector.”
Bridging Traditional Finance & The Digital Assets World
This initiative is a pivotal step for Cambodia in embracing the digital asset revolution. Despite facing regulatory challenges, such as restrictions from the National Bank of Cambodia regarding direct links between financial institutions and crypto exchanges, RGX has introduced innovative solutions to bridge the gap between traditional finance and the evolving digital asset world. The platform’s operation under a ‘sandbox model’ approved by the Securities and Exchange Regulator of Cambodia (SERC) in January 2024 reflects its commitment to regulatory compliance and innovation.
Looking ahead, RGX plans to expand its technological offerings through collaborations with X-Codes Solutions for technical expertise and Ezecom for secure data hosting on Cambodian servers. The forthcoming launch of the RGX Token and the exploration of asset tokenization initiatives underscore RGX’s ambition to remain at the forefront of the global digital asset landscape.
With the introduction of its P2P trading feature, Royal Group Exchange not only establishes a new standard for crypto trading in Cambodia but also reinforces its position as the pioneering platform for regulated cryptocurrency transactions in the country.
