Bibox Exchange Launches Blockchain Project Incubator
Bibox which is the ninth largest crypto exchange, recently announced the launch of Bibox Orbit, an incubator for blockchain projects.
The announcement read:
“As a quality digital assets trading platform, Bibox is focused on excavating and boosting the launch and the development of high-quality decentralized projects. Based on this vision, Bibox Orbit comes into being. Bibox Orbit gathers the years of accumulated valuable experience and quality resources of Bibox team. It is aimed to provide the best growing environment for high potential blockchain projects and assist them with ecological construction and long-term development. Bibox Orbit will be the strongest foundation for them to open the gate of the global market.”
The Bibox Token (BIX), which is associated with the Bibox exchange, had taken off in March as improving market conditions and continued Bibox development have investors feeling bullish. Over the period, BIX rose from $0.159 to over $0.48, an increase of roughly 200%.
The exchange was founded in 2017 and is owned and operated by a sophisticated team of Chinese blockchain and cryptocurrency experts. The team includes the co-founder of OKCoin and other founding members of Huobi.com which are among two of the largest cryptocurrency exchanges in China and the world.
Bibox is based out of Hong Kong. They charge market maker and taker fees for each trade transaction. As well, they charge withdrawal fees. However, the fees charged by Bibox are some of the lowest in the industry.
Its been 6 months since Binance launched Binance labs and expanded their services to support an incubator program. Similar projects are being launched not only by exchanges but also other players in the blockchain ecosystem.