Glossary Term

OMG

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or OmiseGO, describes itself as ‘the answer to a fundamental coordination problem among payment processors, gateways and financial institutions’. Built on the Ethereum platform, OMG’s aim is to offer users a substitute for online exchanges. Still a project under construction, the team behind it is building a unique decentralized exchange (DEX) that has the ambitious goal of lessening the importance and power of financial network intermediaries, a.k.a centralized banks and brokerages. One of OMG’s competitive advantages over other cryptocurrencies is the strong relationships it maintains in the financial payments industry. Those relationships stem from the fact that OMG started as an independent extension of the company Omise, an established payment processor in its own right that operates in Southeast Asia.

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What is OMG? A Traders Expert explanation

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