Crypto trading firm Wintermute to launch DEX on Ethereum

Crypto market-making giant Wintermute is launching Bebop, a new decentralized exchange (DEX) set to go live on Ethereum this summer.

Bebop will join the roster of existing DEXes on Ethereum, which includes Uniswap, Sushiswap and Curve.

“I believe that Bebop can be…more than just a tool to route to the best venue for execution,” said Evgeny Gaevoy, founder of Wintermute. “Bebop’s ambition is to redefine user experience in DeFi, making the process of trading intuitive and hassle-free.”

Decentralized exchanges allow users to trade crypto tokens without the usual know-your-customer (KYC) checks, making them a popular alternative to centralized exchanges such as Coinbase (COIN) and Binance.

Unlike Uniswap and its various forks, the code base for Bebop is not open source, according to a Wintermute spokesperson.

The announcement comes on the heels of the April launch of Wintermute’s new zero-fee institutional trading platform, Wintermute Node.