The system will enable users to set up their own currency exchange in a matter of hours, and select its languages, currencies and features instantly.

The company's Israeli CoFounder, Sharon Greenberg, unveiled its first product speaking at the Inside Bitcoin conference, saying "setting up a white label exchange will be as easy as registering a domain name".

The platform has gone into public Beta in five languages, with 10 fiat currencies and 10 local currencies and promises more to come in the next few weeks. People wishing to set up their own currency exchange can set the currency pairings, languages and trading features they wish to include, to create a platform that is tailored to their own community. They can even launch their own coin on the platform, in a matter of hours rather than days.

White label customers can also choose from a variety of "all inclusive" packages which include features such as company incorporation, banking services, website design and hosting services. Crypto Next has already received international interest from organisations looking for an inexpensive, quick and simple white label solution and has signed contracts with exchanges in Spain and Greece, with more to follow in the coming weeks. They expect to have at least 10 exchanges live by the end of the year.

The company's CTO, Asaf Azulay, says "In order for digital currencies such as bitcoin to become mainstream, more people need to sign up for them. By facilitating the creation of user friendly exchanges, we aim to create a greater demand, in turn encouraging merchants to accept digital currency and completing the cycle of buying and selling".

To encourage visitors to the new platform, Crypto Next is giving away 50,000 Crypto Next Coins (CXC) with an issue value of $50,000 US. CXC is a token that can be used in lieu of the transaction fees the company would usually charge. In a launch giveaway, Crypto Next is giving away 2500 vouchers worth 20 CXC each, available on Crypto Next's blog. CXC is also available for purchase on the Crypto Next exchange at a discounted rate until the end of October.