Serenity Escrow Service Expands Partnership to Teletrade FX Broker
Major trading corporation TeleTrade has recently announced their intention to partner with blockchain escrow service Serenity. Serenity uses blockchain technology to facilitate transactions and relationships between traders and their stock brokers.
This most recent partnership is the latest example a trend of growth for Serenity as they transition from startup to major corporation.
Serenity works to provide an additional layer of safety and security to the stock trading process by allowing traders to verify transactions, evaluating whether or not trades where conducted fairly and when/how they were executed.
The technology relies heavily on the growing technology of the blockchain, a public and decentralized ledger that holds information for all parties to see and verify.
The company’s Initial Coin Offering, or ICO, was immensely successful. Raising over $4 million, they were able to secure a spot as a leading facilitator of stock trading on the blockchain. Their platform is being put into implementation by several notable brokerages and promises to revitalize the faith of some traders in the market.
Another major feature of Serenity’s system is their arbitration platform. Whereas trades are traditionally recorded on the broker-side of the transaction, Serenity’s use of the blockchain publicly records all transactions.
The benefit is twofold. For the trader, this allows an added level of transparency; they are able to check and verify that their broker has successfully executed the trade. For the brokerage, the public transaction model allows them to prove the legitimacy, speed, and accuracy of the trades they execute for the traders.
TeleTrade is not the only major corporation to join forces with Serenity. Early April saw the partnership between the company and Atirox in an effort to gain access to the international trade market.
For Serenity, the partnership with TeleTrade FX Broker has serious implications. Though the company already has access to a global market, it seems that linking with TeleTrade promises to give the organization an in to local markets of trading. Because of the decentralized and borderless nature of the blockchain, integration into otherwise unattainable markets is distinctly achievable by the Serenity technology.
Serenity’s founder emphasized the importance of transparency the company’s business model and appeal, citing the ability for traders to verify the validity of the brokers’ actions as one reason that many hail the company as the solution to many trust and transparency-based issues within the financial trade sector.
The integration of lucrative smart contract technology is another major benefit of Serenity’s interface. Founder Stanislav Vaneev remarked that the smart contract technology ensures that “trading and other activities” are always conducted “According to market rules and practices.”
The ability of the market’s participants to consistently verify and evaluate the movement of their own funds continues to generate interest in Serenity.
Without a doubt, this latest acquisition is an integral step in the global expansion efforts of Serenity. TeleTrade’s access to international local markets is a major win for Serenity in their effort to globalize the blockchain-based, smart contract technology for worldwide verification of financial transactions. Be sure to check out 2018's top cryptocurrency trends for further reading!