On September 15 the trading platform BTC-e announced its official rebranding and the new exchange domain called Wex.nz. The company’s welcome message explains to customers the details of the reopening they call “Wex Rising,” while the business also emphasizes they are fully AML/KYC compliant.
Also Read: Bitcoin Markets Rebound as More Chinese Exchanges Plan to Close Operations
BTC-e Transforms Into a New Exchange Called ‘Wex’
The exchange BTC-e has recently announced to its Twitter followers it has now rebranded into a trading platform called Wex. The new domain looks exactly like the old BTC-e trading platform, and the exchange is trading 484 BTC worth of trade volume at the time of writing. Everything is the same minus the new name, and patrons will be pleased to see the ‘troll box’ is alive and well. The front page of the site contains a welcome message from the new Wex team which explains how customers can trade and withdraw balances.
“This is our first official announcement,” explains the Wex team. “We thank all ex-users of BTC-E for their patience at such a difficult moment for all of you guys. We on our part have spent a lot of efforts and energy to create a new platform for trade in the shortest time limits.”
The Wex Exchange Owners ‘World Exchange Services’ Are Compliant With Singapore Law
Wex notes on its website that the business adheres to Anti-Money Laundering (AML) and Know Your Customer (KYC) laws. On the user agreement page, Wex details that the digital asset exchange is now compliant under Singapore regulations stating;
Our platform will operate according to AML/KYC laws and world legislation in this field. World Exchange Services payment service is regarded as a stored value facility under Singapore law.
The exchange also revealed it’s new Wex tokens which are credited existing BTC-e users and that daily limits will be set for customer withdrawals. Additionally, Wex explains that the platform will operate in a “test mode” for general security purposes. “After this period is over, the platform will work without limits, thank you for your kind understanding,” explains the Wex representatives.
BTC-e also began allowing withdrawals and added an extra support tool last week just before the platform rebranded to Wex.
The Alleged BTC-e Operator Says He’s Not Guilty
The rebrand also follows the recent interview with the alleged former BTC-e employee, Alexander Vinnik. U.S. law enforcement arrested Vinnik in Greece on multiple charges of money laundering and said he was the trading platform’s “administrator.” BTC-e has stated that Vinnik was not the main operator of the exchange and also detailed that the individual was never an employee.
“I do not consider myself guilty — The fact that I worked for BTC-e and did my job, it’s not justifiable to accuse me of it,” Vinnik explains to the news outlet Russia Today (RT).
What do you think about the trading platform BTC-e rebranding to Wex? BTC-e was a popular exchange, would you trade there? Let us know what you think in the comments below.
Images via the Wex website and Shutterstock.
Do you like to research and read about Bitcoin technology? Bitcoin uses peer-to-peer technology to operate with no central authority: transaction management and money issuance are carried out collectively by the network. Read all about it at wiki.Bitcoin.com.
