Blackmoon Blockchain Firm Launches Binance ETx Token Based On Binance’s Most-Traded Coins
Binance is the biggest exchange in the world, based on volume. Blackmoon, a blockchain fintech company, recently used the performance data of the most-traded coins on their platform to help them develop a new asset token called Binance ETx. On Wednesday, Blackmoon announced the launch of the new token.
This type of offering is new for the industry, ultimately hoping to improve diversification in the industry. The performance data collected came from the Binance Most Traded index, which includes the 20 coins that have the highest trading volume. It shows the daily trading volume of the coins, helping it to rebalance their portfolios weekly. Blackmoon’s platform is setup for the purchase or sale of the index.
The Binance Most Traded index is the seventh cryptocurrency strategy developed by the company, which is also available for access on Blackmoon’s platform. Each one provides an investor with a certain amount of risk and return, though it is up to said investor to determine which one has risks that they are willing to take.
For users with traditional investments, Blackmoon offers different strategies, like stocks and Prime Meridian.
COO Sergey Vasin of Blackmoon commented on the project launch, saying, “We at Blackmoon believe that investors should not be barred from the benefits of diversification and automation that thematic investment portfolios and algorithmically driven investment strategies offer and should not be a privilege of a selected group of investors.”
The news that Blackmoon had entered the US market came from Finance Magnates this month. To introduce and attract US investors, they started with a private crypto strategy offering.
Along with the US, they also established a home in Malta, where they are presently awaiting to be approved for a Category 3 Investment License. This type of license can only be issued by the Malta Financial Services Authority (MFSA).