Back in 2017, as experienced professional Wall Street traders and investors, Jack Tao and other founding members of Phemex identified a lack of professionalism, trustworthiness, and customer support within the crypto industry. In the following two years, the number of users engaging in cryptocurrency trading increased significantly. Nevertheless, existing exchanges showed little to no improvement. Realizing the seriousness of the problem, the team left Wall Street and founded Phemex in the summer of 2019. They then dedicated themselves to building a simple, efficient, but most importantly, a trusted cryptocurrency trading platform. Then, on November 25th, 2019, the Phemex platform officially went live.
Partnering with Banxa enables easy but secure fiat to crypto purchases for Phemex’s users by adding many convenient payment methods to the current service.
300,000 transactions per second
Cold wallet storage with 2-level human scrutiny and offline signatures
Perpetual contracts with up to 100x leverage