Credit to the efficiency and convenience, digital assets have an increasingly irreplaceable position in today’s global financial markets. And as a top revenue-generating role, crypto exchange striking more and more attention.
Limited by technology capability, many institutions aspiring to participate in this industry, choose to cooperate with the technical service providers with white-label, SaaS form, or even purchase the source code. The technical service providers of exchanges in the current market can be divided into two types: has a self-managed Proprietary exchange business or no which has been discussed for long. Looking back to the centuries-old development history of the financial technology service industry, we might get some inspiration.
Technological Advances and Proprietary Business Development are like a “Couple”
Can technical services and Proprietary self-operated business develop simultaneously? Thomson Reuters and Bloomberg, two giants of global technology service providers, have both faced this problem.
Nail FitzGerald, the former chairman of Reuters Group, was once asked in an interview, “Is it worthwhile for Reuters, as a financial consulting service provider, to spend a lot of energy and money on technology development?” If you look at the history of Reuters, you’ll see that Reuters’ media business has always been in step with technological advances,” Nail replied. I think Technological advances and business development are like a ‘couple’… the constant duty is to fully understand the needs of the target customer. To provide products and services that satisfy them more than their competitors, in order to maintain the Reuters market position”
“Improve technology while developing proprietary business ” – Reuters Group has always adhered to this development principle. in 2008, after the merger with giant Canadian firm Thomson to form Thomson Reuters Group Inc. More so. Today, Thomson Reuters has always maintained its position as one of the world’s top three financial business information providers, as well as the world’s leading foreign exchange trading Platform.
Bloomberg, another global financial information provider, has the same strategic layout as Thomson Reuters. After Bloomberg was founded in 1981, it was originally only financial information and trading terminal-Bloomberg Terminal and started its news agency business in 1988, then the Internet was still in its early stages of development, and Bloomberg first showed changing financial indicators such as tables, curves, and charts to the Customer through the network. The one-stop information solution through Bloomberg terminals has revolutionized the way traditional media operates. Today, Bloomberg has become a world leader in the financial information services industry, as well as the financial trading platform terminal. The top technology service provider perfectly realizes the strategic layout of technology and business develop synchronously.
Looking at the global exchange industry, many financial giants also tend to develop business and technology in parallel, consolidating their business through technology improvement and business expansion. Since the beginning of the 20th century, there has been a global boom in exchange mergers and acquisitions, many global exchanges with huge market value and diverse products have been born. According to Visual Capitalist’s report published in June 2017, there are 60 major global Stock exchanges with a total stock market capitalization of $69 trillion. Sixteen of these stock exchanges have a market capitalization of more than $1 trillion, and most of these exchanges, directly hold or participate in much high-quality financial technology service provider.
ICE (The Intercontinental Exchange Group) is a typical case, at the beginning of the establishment of ICE in 2000, it only involved energy transactions in the OTC market. During the next 20 years, they scale up quickly by merger other companies constantly:
In 2001, acquired International Petroleum Exchange (now ICE Eurex).
In 2002, acquired CommodityLogic, the software and hardware technology company of energy giant Enron.
In January 2007, acquired The New York Board of Trade, completed the technological transformation of the underlying electronic platform of many financial products.
in August 2007, The acquisition of the Winnipeg Commodity Exchange.
In 2008, it acquired wholly-owned CDS platform technology operator Creditex and credit market-clearing platform operator The Clearing Corp.
In 2012, After 12 years development，ICE acquired New York-based NYSE Euronext Group for $8.2 billion, which shocked whole Wall Street.
In 2016, the acquisition of CMA, an OTC market data technology provider…
Through a series of merger and acquisition moves, ICE is now one of the largest exchanges in the world in terms of listed business and trade clearing. Technology and business go hand in hand across the group, with its data and technology services revenue accounting for as much as 40% of its operating income at one point.
In the digital asset industry, leading companies also tend to have both technology and Proprietary business to diversify their business. In 2018, the global leading trading platforms Huobi and OKex have launched the white label exchange business, and in early 2020, Binance and Kucoin launched Exchange Systems Services too. Bluehelix, founded in 2018, was co-invested by Huobi and OKex and other 56 institutional investment firms, is also one of the leading crypto exchange service providers in SaaS and White label solutions. In order to validate and polish the Bluehelix Cloud system, HBTC Exchange was established (rebranded from BHEX Exchange), as a flagship case shown to customers.
After two years of development, HBTC Exchange has become one of the leading crypto exchanges in the Asia market. In order to avoid competition with Bluehelix Cloud partners, on April 17, 2020, Bluehelix Group split branding into Bluehelix and HBTC Exchange. Bluehelix is toB SaaS Cloud white label technical solution provider, and HBTC Exchange is to retail and institutional traders. These two business lines will be more focused to serve clients and partners in different ways with more quality services.
HBC token, A Exploration of Blockchain Finance
In the new upgrade of HBC token, the most innovative is the ” Daily 10xPE Repurchase Model” and “HBTC Captain Incentive Model”, HBC is the first Trading Platform Token combining the two lines of technology and business to empower each other.
According to the HBTC Exchange official announcement, “HBC represents the key element for the three business of Bluehelix which includes HBTC Exchange, HBTC Chain, and Bluehelix Cloud. HBTC Exchange will use 100% of the revenue and 80% of Bluehelix Cloud’s profit for the HBC Daily 10xPE Repurchase. which can effectively reflect the value brought by the platform revenue to the secondary market of $HBC.”
In other words, the value of both HBTC Exchange and Bluehelix Cloud can be successfully delivered to the public through HBC token, and no longer be manipulated by minority groups. HBTC Exchange becomes a 100% Token Holder Owned Trading Platform, everyone’s benefit—including the HBTC team、angel investors and other token holders will be reflected by the value of the tokens. Therefore, for all internal and external token holders, only when the price of $HBC rises can they get the value, and all of them will jointly maintain the value of $HBC.
Through the operation of the HBTC Exchange, Bluehelix has accumulated rich experience in exchange operation. Therefore, they can help the client start their crypto exchange business in a short time easily and provide important support from the underlying system architecture to the business extension.
All of HBTC Exchange‘s successful models will be replicated for Bluehelix Cloud’s customers. At the same time, the bottlenecks experienced by HBTC Exchange during the operation will be forecasted in advance in the form of solutions to the Bluehelix Cloud’ customers. Therefore, Bluehelix has powerful ability to help customers carry out exchange business quickly and smoothly.
Today, both HBTC Exchange and Bluehelix Cloud have been proven in the market for two years: HBTC has a complete product line and has accumulated a number of loyal users. Bluehelix Cloud has been chosen by more than 260 clients around the world, including many famous companies such as Japan’s licensed exchange Xtheta, South Korea’s leading exchange Hanbitco.
A few months ago, Bluehelix start its next-generation trading platform project named “Cone”, which will be low-latency, high-performance, and high-volume technology and achieve a low latency of less than 1ms for the whole network. The launch of “Cone” will greatly improve the current competition in the cryptocurrency derivatives market.
Bluehelix possesses a team of blockchain financial experts, which realize a big leap in a short period. This proven team of experts is benchmarked against the real business scenarios of the exchange through financial grade system architecture construction and comprehensive business vision. has successfully developed and operates the most complex digital asset management and risk management.
Should we focus on technical refinement or business development? It’s never a matter of choice; a quality trading platform necessarily requires solid technical capabilities to back it up, and a set of quality Cloud services also need a benign trading platform for real validation. When there are more and more companies in the market that have the strength of both, the industry will see better development.
About HBTC Exchange
HBTC Exchange is a 100% Token Holder Owned Trading Platform, jointly invested by Huobi, OKEx, and another 56 first-class institutions. providing traders with Spot, Futures, OTC, Options trading products. HBTC provides a 100% Proof of Reserve and a 100% transaction trading fee proof in order to protect end-users’ assets safety and platform credibility.
About Bluehelix Cloud
Bluehelix is a blockchain financial infrastructure provider and its Bluehelix Cloud provides technical solutions of Spot, Futures, Options, OTC trading system, and liquidity services with full-stack solutions and industrial SaaS CSM service standards. Bluehelix Cloud SaaS and Whitelabel solution have served more than 260 crypto exchange clients worldwide, covering over 12 million end-users, and its assets custody valuation exceeds 6 billion USDT.