Alex Chehade speaks to Henzelene Healley at ABC Conclave in Dubai
From FX platforms to non-custodial DeFi solutions, Alex Chehade’s Redefine aims to revolutionize crypto trading by merging the ease of centralized exchanges with the security of self-custody.
In an insightful discussion with Alex Chehade, the founder of Redefine, several key points were raised about his journey from managing traditional financial platforms to revolutionizing the cryptocurrency exchange landscape. His narrative reflects the evolution of digital asset exchanges and the driving force behind Redefine, a non-custodial, decentralized platform aimed at simplifying user interaction with crypto assets.
Running FX Platforms and Binance Dubai
Alex Chehade started by recalling his previous roles, which laid the foundation for his current endeavors. He shared his experiences of running FX platforms, stating, “Before that, I was running FX platforms,” as well as leading Binance’s Dubai exchange. When asked about his transition into the crypto industry, Chehade said, “Richard [from Binance] brought me to run the Dubai exchange,” which played a significant role in shaping his future in blockchain and crypto trading.
The Birth of Redefine: Simplifying Crypto
After working at Binance, Chehade shifted gears towards building Redefine, a platform that strives to eliminate the complexities of crypto custody. According to Chehade, Redefine represents “the future of crypto interaction.” He explained that while Binance and other centralized exchanges excel in their usability, they are inherently custodial, meaning that users don’t have full control over their assets. This, he believes, contradicts the ethos of cryptocurrency, which is rooted in self-custody and decentralization. He clarified: “We’ve built a platform that looks like a centralized exchange, but is completely non-custodial, so there’s no counterparty risk, and you own your assets.”
This vision led to the creation of Redefine, a hybrid platform that integrates the user-friendly aspects of centralized exchanges with the security of decentralized finance (DeFi). Users can connect their wallets, whether they are hardware wallets or software wallets, and manage their assets through an easy-to-use dashboard. Chehade emphasized: “It’s still going… It really just looks like a centralized exchange, except the beauty is, you just can connect your wallet and instantly execute and trade away.”
The Importance of Integration and Removing Barriers
Chehade spoke about the challenges faced by users when navigating decentralized finance, mentioning how Redefine simplifies this process. He said, “We use general message passing technology and account abstraction… [to] make it look like the Web2 trading experience.” By removing the barriers that often intimidate newcomers to the crypto space, Chehade and his team at Redefine seek to make crypto trading more accessible.
The platform is designed to abstract the complexities of crypto, making it easy for users to swap assets, send and receive crypto, and even access AI-powered news. He stressed that the focus is on ease of use: “We’re removing all the difficulty of crypto.”
Innovation in DeFi: Non-Custodial Trading and Beyond
One of the unique aspects of Redefine is that it orchestrates trading directly from users’ wallets, eliminating custodianship and the associated risks. He stated, “At the end of the day, we’re just a tool to allow people to connect their wallet to a smart contract.” This non-custodial approach ensures that users maintain control over their assets while enjoying the convenience of a centralized interface.
Chehade elaborated on the various integrations Redefine is building: “We support EVM, Solana, Stellar, and Cosmos,” allowing users to trade across multiple blockchain ecosystems seamlessly. He also mentioned ongoing partnerships with platforms looking to tokenize traditional assets such as US stocks, making Redefine a versatile tool for both crypto enthusiasts and traditional finance users.
Navigating Regulatory Challenges
On the regulatory front, Chehade acknowledged the challenges, particularly in navigating the evolving legal landscape surrounding DeFi. He reflected on his prior experience, saying, “I’m a crypto regulatory expert, so I’m quite comfortable.” This expertise, combined with strong relationships with regulators such as ADGM and VARA, gives Redefine an edge in the fast-changing regulatory environment.
Chehade noted that the UAE has been forward-thinking in its approach to cryptocurrency, observing that “leadership here have decided… this is an industry that they can lead from.” He appreciated the supportive regulatory framework, which allows companies like Redefine to flourish in the region.
The Future of Crypto: Usability, Security, and Innovation
Looking ahead, Chehade emphasized the importance of making crypto trading as intuitive as possible. He pointed out that consumers want user-friendly experiences, similar to traditional banking apps, and that Redefine is working to bridge that gap. He concluded: “It’s really just about making crypto easier.”
In summary, Alex Chehade’s vision for Redefine is to build a platform that marries the user experience of centralized exchanges with the security and freedom of DeFi. By focusing on ease of use, innovative integrations, and regulatory compliance, Redefine is poised to play a significant role in the next phase of the crypto market.
