Centralized crypto exchange Bitnikex integrates decentralized exchange ApeX Pro into the platform

This move was “going full steam ahead” before the collapse of FTX and increased control over centralized exchanges.

Dubai-based centralized crypto exchange Bitnikex has integrated decentralized exchange ApeX Pro into its offering to allow customers to trade on both types of exchanges on one platform, Bitnikex announced Thursday.
ApeX Pro is a permission-free decentralized exchange (DEX) offering perpetual contracts using StarkWare’s scalability engine, StarkEx. It is ported to the Bitnikex platform via the Web3 wallet, which is a hybrid wallet similar to MetaMask that does not store customer personal data.
Centralized exchanges (CEX) have recently come under increased scrutiny after FTX, once trusted, turned out to be a potential fraud, causing thousands of users to lose billions of dollars.
But the collapse of FTX is not the reason for Bitnikex’s integration with ApeX Pro, which was “going full steam ahead before the saga,” Bitnikex co-founder and CEO Ben Zhou told CoinDesk.
“Part of our mission is to be a trusted gateway for Web3, and this integration is an important step along the way,” he said.
Earlier this week, Bitnikex announced it would cut another 30 percent of its workforce as it tries to refocus its operations in a “deepening bear market.”
Because ApeX Pro and Bitnikex are separate organizations, Bitnikex will not participate in ApeX Pro operations, and the two teams are separate. “ApeX Pro is a self-sufficient decentralized platform that requires no additional resources from Bitnikex,” Zhou said.