TEZEX will begin as a central counter in which institutional users purchase, swap, and liquidate their Tezos-based stable-coins (including USDtz). Access is currently limited to institutional purchasers of USD Tez.
Over time, TEZEX will list more and more Tezos-based stable-coins, each pegged to a the values of different currencies, respectively.
Effectively, this also means that TEZEX will be eventually able to facilitate a Tezos on-chain representation of FOREX global currency trading, only better.
In FOREX trading, the numerical accuracy of a peg is of critical importance — a fraction of a penny difference can mean the difference between profit and loss.
Unlike traditional FOREX trading platforms, TEZEX runs on Tezos-blockchain, and can thus organically leverage the formal verification capabilities of the Tezos protocol to enable greater arithmatic accuracy of pegs and trades, and therefore greater profitability for FOREX traders.