The Foundations Realigned

On March 17, 2010, Bitcoinmarket, the first cryptocurrency exchange, went live globally with no true consensus on unit price. BTC started trading at an exchange rate of 333 BTC / 1 USD. The now-defunct Bitcoinmarket served as the initial step for a global phenomenon and financial market disruptor for what would be known in the future as decentralized finance, "DeFi."

By enabling permission-less and decentralized financial market engagement across the globe, Bitcoin and Bitcoinmarket sparked interest from traditional trading firms of all sizes. These firms have become more engaged and eager to find new ways to stay ahead of the ever-changing curve that this newfound industry brings to fruition.

Currently, the industry standard for institutional firms or all sizes trading cryptocurrencies is to use FIX protocol's crypto-oriented API, or a variation of such with HitBTC's API integration (which entails using FIX's 5.0 release). Although FIX's solution and similar competing products deliver a sound and very competent solution for their client base trying to tap into this growing market segment, the team behind Re believes that competence and sound product aren't metrics safe from disruption, especially in our industry that is ripe with innovation at every turn.

Utilizing a variation of the FIX protocol API within a front-end and engaging with various financial product suites through custodial provisions does not suffice for an "ends-all" to establishing communication and settlement in an industry driven by on-chain engagement and data metrics. Re understands the importance of what FIX offers and sees that their current design is missing a critical piece, being directly embedded into these respected chain ecosystems.

Behind the inception of Re lies a cypher punk altruism that enables market participants of all sizes to interact directly with their native chain economy in a non-custodial manner while playing by their respected regulatory requirements within an EMS (execution management system). This allows for a more intimate and profitable engagement, unlike ever before, all while not straying away from pre-existing workflows that FIX offered in their repertoire.