SFOX High Volume Crypto Asset Management Platform Lists Litecoin (LTC)

    SFOX, The Premier High Volume Crypto Asset Management Platform Lists Litecoin (LTC)

    SFOX, a crypto asset management platform for high volume traders and institutional investors announced yesterday, September 27th, that it was adding trading support for Litecoin (LTC). The platform allows users to invest in Litecoin through direct USD to Litecoin or a Bitcoin to Litecoin transaction. SFOX already lists Bitcoin, Bitcoin Cash and Ethereum and the addition of Litecoin only expands the platform’s offering with more diversification options for its users. In the announcement, SFOX CEO, Akbar Thobhani stated that its clientele consists mainly of clients who are already accustomed to Wall Street standards and therefore they have to be very confident in the coins they chose to add to their portfolio.

    He added that,

    “Litecoin has utility and liquidity, and is supported by a great team at the Litecoin Foundation. We are happy to deliver on our promises and provide our customers with an option that they’ve been asking for.”

    SFOX was founded in 2014 with the goal of providing services tailor made for large scale investors. Its clients have included funds, family offices and high net worth individuals and it has transacted 0ver USD 9 billion in cryptocurrency to date.

    SFOX has grown its client base by more than 1200% since the beginning of the year. Its features allow users to trade high volumes of cryptocurrency without affecting price by distributing such transactions to a large network of global cryptocurrency liquidity avenues. The move increases liquidity and exposure for Litecoin with its CEO, Charlie Lee noting that,

    “SFOX is backed by several well-known investors, which speaks to the company’s business model and team. We look forward to providing support through the Litecoin Foundation to help make this partnership a success.”

    Litecoin was developed to improve on the original Bitcoin and as such, the two platforms share a lot of similarities. The main differences brought by Litecoin include a shorter block time, a feature that enables for faster and cheaper confirmation of transactions. Since its creation, Litecoin has grown in terms of adoption and market capitalization. It is focused on developing as a global payment coin and continues to push towards this goal through the #PayWithLitecoin campaign run by the Litecoin Foundation. The aim of the campaign is to encourage and assist more merchants to join in and accept Litecoin as a form of payment for their goods and services.

    SFOX intends to expand beyond large traders and institutional investors and in August, it announced that it had raised USD 22.7 million in series A funding to facilitate the development of infrastructure to enable it become the premier institutional crypto asset management platform. The funds will also go towards improving on the platform’s advanced security and risk management features and to facilitate addition of new coins onto the platform to give clients more options for more diversification.

    Following the announcement, Litecoin has gained over 11% within the last 24 hours to trade at USD 64.32. Its market capitalization stands at USD 3.76 billion making it the 7th largest in the market. The listing is likely to open up more opportunities for the coin to grow further in value.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Bitcoin Exchange Guide News Team
    B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


    Please enter your comment!
    Please enter your name here


    Live Bitcoin Price & Latest BTC Charts

    Today's Latest Crypto News

    Gold Hits 7-Year High As Investors Jump into Safe Haven Assets But Bitcoin Not Following

    Coronavirus outbreak has the investors fearing a slowdown in global growth and piling into safe-haven assets like gold US dollar also rising while...

    Russia’s Central Bank And FSB Agree to Ban Cryptocurrency Payment Options

    A Russian local news source, recently reported that the country’s Central Bank and Federal Security Service (FSB) finally came to an agreement that cryptocurrencies...

    Binance CEO: We Aren’t “Operating” in Malta After MFSA Says Exchange Is “Not Authorized”

    Malta Financial Services Authority (MFSA) releases a statement stating “Binance is not authorized by the MFSA to operate” in the country Binance CEO...

    Virtual Game World Decentraland Launches On Ethereum, $100k In Hidden Prizes

    A virtual game that is developed on the Ethereum network has finally been launched to the public, the Block reports. The new game allows users...

    What’s Got Algorand's ALGO Jumping 26% And Still “Hot”

    Algorand flying, up 100% in 2020 so far, got fuel for another 100% run-up Binance.US announcing support for Algorand (ALGO) staking that went...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.