The BR2EX virtual currency, is a particular type of stablecoin that aims to replace the use of fiduciary currencies by the cryptocurrencies exchanges (“exchanges” or “DLT exchanges”).
Due to the negotiation and regulatory challenges of using fiduciary currency on the platforms, whether it is the difficulty in operating with financial institutions or the regulatory risks, BR2EX presents itself as the virtual currency with the capacity to replace the need of using fiat money in crypto operations, ensuring equal security and practicality with the benefit of reducing transaction costs.
BR2EX is the currency of a new blockchain, the centralized and private CLO Blockchain owned by BRX LTD, a company incorporated in Malta. Its technology is based on the concept of Proof-of-Authority (PoA), being inspired in the blockchains of Ethereum, EOS and Ripple. BR2EX's main function is to support an innovative payment system based on BR2EX itself and its blockchain.