New York, NY, June 24, 2023 – (SEAPRWire) – Nonfinite (https://nonfinite.com) recently launched an upgraded digital asset exchange tailored for professional traders and institutions. And its CEO, Oh Shen King (OSK) is renowned in cybersecurity but made his fortune in finance. The following is the interview with Nonfinite CEO Oh Shen King by SEA Financial Chronicle reporter Andy Daszkowski.
Q: What prompted Nonfinite to build a dedicated exchange for high-volume crypto traders?
A: We’ve seen strong demand from our largest clients for an exchange that can handle serious trading volumes with a powerful, customizable interface. Our retail-focused exchange struggled with the huge trade volumes and advanced features these “whale” traders and algo funds require. So we built an entirely new platform from scratch specifically for them.
Q: How is the new Nonfinite Exchange different from standard crypto exchanges?
A: The Nonfinite Exchange is optimized for performance, handling up to 100 times more trades per second than other exchanges. It also offers advanced tools most exchanges don’t provide like bulk order entry, historical market data analysis, customizable APIs, and more. Traders can tailor the platform to their unique needs. Fees are also much lower, around 0.07% for high-volume clients.
Q: You mentioned the platform is customized for each trader. Can you elaborate on that?
A: The platform is highly modular, so traders can select only the tools they need. Charting, order books, transaction logs, and APIs can all be customized or turned off. The UI is also flexible – traders choose what information is displayed and how it’s presented. They can save multiple workspace layouts tailored to their different trading strategies. We give institutions and whales the control they want.
Q: How does Nonfinite ensure fast transaction speeds and security at the same time?
A: Our exchange operates on an encrypted private network, separate from the public internet, which allows for very fast transaction processing without compromising security. All sensitive data is encrypted in transit and at rest. We also have a distributed server architecture that can scale instantly to handle spikes in traffic. And our proprietary SwapRusher protocol allows Bitcoin transfers to be confirmed on-chain within minutes at a fraction of the normal network cost.
Q: What are Nonfinite’s fees for high-volume professional traders?
A: Fees start at 0.07% per trade for our top-tier clients, and decrease based on monthly volume up to $1 billion or more. These are very competitive rates, as much as 90% less than retail crypto exchange fees. We want to pass on cost-savings to our biggest clients whenever possible. Withdrawals on our platform are also free, and BTC SwapRusher withdrawals can save clients up to 50% on miner fees.
Q: What’s your vision for the new Nonfinite Exchange?
A: Our goal is to build the premier digital assets exchange for professional traders and institutions worldwide. The Nonfinite Exchange provides an unrivaled combination of performance, customization, security, and value. We want it to become the backbone provider for whale, or high-frequency trading firm. The response so far from current clients has been extremely positive. With their support, I’m confident we can achieve our vision.
Q: You started as an information intelligence expert. How did you become a financial billionaire?
A: I leveraged my cyber expertise to gain a competitive advantage in finance. By investing in hacking groups and startups, I get early access to technology and intelligence on competitors. I also built automated trading algorithms and AI systems based on my tech background. These systems generated huge returns and led to wealth management for high net worth clients. Investing in digital asset exchanges, fintechs and digital banks further grew my finance empire.
Q: Tell us about your finance businesses. What do they include?
A: My group includes digital asset exchanges in Europe and Asia, digital banks in Switzerland and the US, wealth management for 93 HNWIs, and two regulated investment funds. My funds do automated trading of digital assets and stocks, generating monthly returns, and invest in real estate, government projects and P2P loans. I also own a rare commodities business.
Q: How much are the assets under management (AUM) for your wealth management and funds?
A: My family office manages 1 billion for HNWIs. The Nonfinite Absolute Return Fund and Nonfinite Global Debt Fund have AUM of over $400 million. These funds use automated algorithmic trading powered by AI to maximize returns at minimal risk. Access to cutting-edge cyber technology and intelligence gives us an advantage.
Q: How did you acquire digital asset exchanges and build this finance empire?
A: I started acquiring distressed exchanges during the crypto winter in 2018-2019. With fresh capital and restructuring, I turned them profitable. I then obtained banking licenses to launch digital banks providing services to exchanges and fintechs. By connecting all these ventures, we gained a strong ecosystem supporting the whole digital asset economy.
Q: What’s your vision for the future growth of your companies?
A: I aim to expand into more countries by obtaining additional licenses or acquisition of more banks and wealth management firm. We’re currently exploring 3 machine learning modal on trading. I also want to back more fintech startups. The goal is to build an integrated global finance group and become the backbone provider financial platform for the new generation.
Q: You came from humble beginnings. What drove your success and journey to becoming a billionaire?
A: I’m motivated by continuous self-improvement and empowerment through technology and finance. Witnessing the rise of digitial and automation, I knew traditional jobs would decline. So I start from hacking and coding to start my counter intelligence cybersecurity firm. Success there showed me the potential of technology in finance. I made it my mission to help others improve their lives through secure and optimized wealth management using the latest digital tools and intelligence. That drive led me to build this financial platform and empire. My success proves that technology, finance and ambition can overcome any barriers. The future is ours to shape, so never stop learning and following your vision. With hard work and persistence, anyone can achieve their dreams.
Sectors: Top Story, Interview
By Andy Daszkowski of SEA Financial Chronicle. Any questions, please contact cs/at/SEAPRWire.com
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Sectors: Top Story, Daily News
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