Belfrics is a Malaysia-based centralized cryptocurrency exchange founded by Praveen Kumar in 2014. Before Belfrics, Kumar had been working as a consultant to various Indian and Singaporean FX and commodity exchanges for over a decade. He is also a founder of Ocfam, an offshore asset management advisory, and Pramaask, a physical and derivative commodity trading company. After reading Satoshi Nakamoto’s famous paper on Bitcoin, Praveen Kumar became fascinated by the power of blockchain and decided to focus his efforts on Belfrics’ establishment. At the time of this writing, the exchange operates in 7 countries (Bahrain, Singapore, Nigeria, Malaysia, Kenya, India, and Tanzania) with the ambitious plans to expand its global outlook to 15 additional countries. Belfrics is also the company behind India’s first KYC compliant blockchain – Belrium.
Over time, the cryptocurrency exchange managed to establish itself as one of the most trusted and transparent exchanges on the regional markets in Asia and Africa. Belfrics is an Authorized Regulatory Sandbox Participant by the Central Bank of Bahrain. The company has a team of more than 120 employees which it plans to double by the end of 2019. The exchange is renowned for its timely and adequate customer support. Clients can get in touch with the Belfrics’ representatives via email, social media, live chat or even directly in its offices.
Belfrics is a secure exchange that offers 2FA for registered users and requires strict KYC compliance (ID proof, proof of address, bank documentation, etc.). The exchange is fully transparent with no history of hacks or shady business-relations.
In terms of functionality, Belfrics is a multi-feature trading platform with more than 25 cryptocurrency pairs available for trading. According to its team, the exchange offers “one of the most highly liquid order books in the world”. It also allows the flexibility to trade via mobile (Android and iOS) and desktop devices. Belfrics users can also take advantage of the integrated free online wallet and fiat payments.
Aside from the cryptocurrency exchange business, Belfrics offers other services as well. The company has invested a lot in expanding its business model and started offering POS (point-of-sale) terminals integration in physical shops. That way, Belfrics tries to create a fully-digital environment where market participants can trade and spend cryptocurrencies. The company is also an official consultant to the Indian government on blockchain deployment topics and works hand-to-hand with multiple state governments like Kerala, Goa, Karnataka, West Bengal, and Maharashtra.
Belfrics is a chain of licenced cryptocurrency exchanges operating from Malaysia, Kenya, Tanzania and Nigeria. Belfrics exchange is owned, operated and managed by the international Blockchain Conglomerate - Belfrics Group. Belfrics group is known to be among the most compliant and transparent with all the governing and regulatory bodies, and as a result, Belfrics Exchange is also transparent, secure and completely user friendly. The Exchanges are powered and backed by Belfrics' propreitary identity blockchain, Belrium. This enables all our clients to open and hold a digital and secure wallet on the Blockchain to securely hold any digital asset and carry it anywhere with them.
Belfrics Exchange, in addition to all the above attributes, is also a market place for the best buying and selling prices for all renowned cryptocurrencies. Since crypto currency is still nascent in the market, and we still have thousands of new traders everyday, Belfrics is equipped with a pool of dedicated technical and functional support staff availale around the clock to ensure our traders have the best experience on our trading platform. BEL is Belfrics' own 100% utility-based cryptocurrency. The utilization of Belfrics' identity/KYC based blockchain, Belrium, drives the economy of BEL coin. Belrium is currently utilized in various dectralized applications, and government projects for identity and e-governance solutions.