As many of our readers probably already know, until quite recently it was difficult for crypto traders to get their hands on stocks and other such commodities. However, as per an official blog post released earlier today, Currency.com is now looking to launch an all-new trading platform (kind of like a Bitmex for stocks) that promises high leverage and low entry barriers for casual enthusiasts.
More On The Matter
A couple of weeks back, the folks over at Currency.com announced that they are looking to provide an entry point for “retail investors to a marketplace that comes packed with a wide array of readily tradable assets”. However, what’s more, is the fact that the assets on offer comprise of tradeable entities such as stocks, gas, oil, and the Nasdaq 100.
As things stand, the platform is only available for use to individuals who have received an official invitation from the firm. There are currently more than 113,000 people on the platform’s waiting list.
Additionally, during a recent interview with Currency.com CEO Ivan Gowan, he spoke at length about the regulatory logistics that have to be taken into consideration when dealing with such a large-scale operation (that too from a country like Belarus). Gowan further added that much of the interest that his firm has generated comes primarily from English and Russian speaking nations. He then went on to add:
“I think there’s a lot of excitement where people see this kind of merging of cryptocurrencies, blockchain and capital markets and they see tokenized assets as a big part of that future,” began Gowan. “We’re not setting ourselves up to be focused on the institutional market – we’re focused on people who want to trade with us directly, people who value simplicity and ease of use.”
Lastly, it should be made clear that as of now, U.S. citizens don't have the option of signing up for the platform. However, that situation might change in the coming few months depending upon the SEC’s view of the matter.
Currency.com’s New Offering Could Be A Gamechanger
When looking closely at what Currency.com has to offer, we can see that its latest investment platform has been devised keeping a retail audience in mind. This is because the system provides retailers with a host of buying options for tokenized assets — all while retaining the familiarity of standard crypto exchanges that one might be accustomed to using.
On the issue, Gown added:
“On the one side, you’ve got the more deliverable side of tokenized assets without leverage, and then on the other side, you can use your cryptocurrencies as collateral for trading with leverage.”
He then went on to explain
“If you run low on margin, the client protection systems kick in so you don’t go into debt,” explained Gowan. If you did have a trade open on Facebook and it dropped by 10 percent overnight because they missed an earnings call, say, then we would take on some of that risk, and we would give negative balance protection.”
For those who may be interested in knowing, Gowan spends most of his time either in London or in Belarus. He has been associated with the crypto scene from the very start and was one of the first individuals to help the Belarus government look at crypto tech through an unbiased lens.
Last but not least, it still remains to be seen how Currency.com tackles some of the hurdles it will face in order to get the approval of the US SEC. However, in the meantime, these are indeed exciting times for the global crypto sector at large.