Exchange on a chip

PAX (link) is building an exchange on a chip. We co-locate high frequency trading (HFT) logic directly onto the same silicon device where we run our core exchange matching engine.

We move traders to within nanometers of the exchange. Such proximity unlocks unprecedented value to high frequency customers and PAX shares this value by offering zero-fees & cash-back, to every other market participant on every trade.

Crypto go-to-market

PAX will start operating its exchange first in crypto, offering spot & perps for BTC & ETH. Crypto is a fast growing space with $1T+ in daily volume.

Technology that spans asset classes

After growing in crypto, PAX will establish a U.S equities ATS and continue to monetize by operating exchanges in every asset class and every global market.