Azbit

Azbit (AZ) is a cryptocurrency exchange that provides services such as spot trading, margin trading, crypto-backed loans, etc., to enterprises, traders, and every crypto user. Additionally, Azbit seeks to offer conventional lending services as well as access to financial products. In simple terms, the Azbit project aims to have components such as financial services, payment processing, multi-currency exchange, investment platform, and a secure identification system under its hood.

According to the whitepaper, Azbit aims to prioritize establishing a legal and transparent relationship with its stakeholders. Apart from issues relating to regulatory complexity, Azbit seeks to address the complicated relationship between traditional and cryptocurrency sectors, challenges that exchanges face, and more. Azbit seeks to comply with regulatory requirements while also enabling access to traditional stock markets and forex markets. Azbit’s concept seeks to have a new feature, that quotations can be recorded in a blockchain, eliminating the contradictions between brokers’ and traders’ interests in such services.

Further, as a multi-currency exchange, Azbit seeks to provide traders with access to cryptocurrency instruments, as well as pairings with traditional currencies and security tokens. Azbit’s platform seeks to give successful traders the option to generate extra trading funds, as well as users with options to acquire cryptocurrencies effectively. The Azbit.ID system endeavors to provide users with quick and secure access to all its services through a single registration and access control service. Furthermore, Azbit aims to enable other blockchain initiatives to utilize Azbit.ID.

The native token of Azbit is AZ, an Ethereum-based ERC20 token. The AZ token seeks to offer utilities such as payment of transaction fees and platform fees, purchase of marketplace products, and creation of liquidity through the DEX module.

The Azbit project was announced in 2018 at the Consensus conference held in New York. Max Zmitrovich is the CEO and cofounder of Azbit. In 2019, Azbit listed AZ tokens in major exchanges and launched the mainnet in 2020.

The whitepaper reports a total supply of 138,888,888,888 AZ tokens.