AAX cryptocurrency exchange announces entry into the Russian-speaking market

The Hong Kong cryptocurrency exchange AAX announced its entry into the Russian-speaking market and appointed Anton Gulin to the position of regional representative for Russia and the CIS. ForkLog was told this by representatives of the trading platform.

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Anton Gulin took up the position on February 1, 2021. Previously he advised corporations and investment funds on blockchain integration. In early 2020 Gulin founded a strategic consulting agency that helps fintech and blockchain companies scale their business.

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AAX notes that the appointment of the regional representative is linked to growing interest in the exchange among Russian-speaking users. In November 2020, 60% of AAX’s trading volumes were attributed to CIS countries. In January 2021, AAX recorded a record influx of users from the region: the number of registrations and deposits increased by 310% compared with December 2020.

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“The exchange notes a sharp rise in interest in cryptocurrencies—from institutional players and users who previously did not trade digital assets. We see this phenomenon across all markets, but it is especially pronounced in Russia and the CIS. The most in-demand products are perpetual futures settled in BTC,” Gulin says.

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As regional representative, Gulin will focus on developing the business in the Russian-speaking segment of the market:

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“Our strategy is to keep a human face in dealing with the community and to assist traders in using the exchange. We publish educational materials for beginners in the education project AAX Academy, and for professional traders we publish weekly reviews with technical analysis of current coins,” emphasizes Anton.

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According to Gulin, AAX is currently negotiating strategic cooperation with CIS market participants. The exchange intends to integrate into the region’s economic agenda to ease entry terms into the crypto industry for Russian-speaking users:

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“We will continue to build strategic partnerships and strengthen AAX’s presence in the media. The exchange is working on localisation of resources and debugging the Millennium Exchange trading engine from LSEG to run 24/7. Although AAX is an international trading platform, we plan separate activities for Russian-speaking traders,” notes Anton Gulin.

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AAX — a crypto exchange supporting spot, futures, and OTC trading. The platform runs on the London Stock Exchange’s Millennium Exchange engine and participates in its partner program.

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According to AAX, the average order execution time on the exchange is 800 microseconds. The exchange secures private keys using hardware security modules (HSM).

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In April 2020, AAX chief executive Tor Chan told ForkLog about the advantages of working with a stock exchange, the project’s development during the crisis, and the future of cryptocurrencies.

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