FXPAY: Using blockchain to unify the Ecosystem and Forex industry
The foreign exchange market (Forex, FX, or currency market) is a global decentralized or over-the-counter (OTC) market for the trading of currencies. This market determines the foreign exchange rate. It includes all aspects of buying, selling and exchanging currencies at current or determined prices. In terms of trading volume, it is by far the largest market in the world, followed by the Credit market.
The currency market is considered to be the largest financial market with over $5 trillion in daily transactions, which is more than the futures and equity markets combined.
FXPay basically aims to address the current inefficiencies within the market and to provide cost-saving solutions to brokers, traders, and liquidity providers with proper utilization of the blockchain technology, Fxpay create a platform where traders can convert their fiat currency to fxpay token to continue to trade when the market has shut down for the week in other decentralized exchange to maximize profit.
Until now, brokers have had to approach liquidity providers to provide them with liquidity. They can then offer this to their customers. In the future, FXPay will act as its own Premium Broker. Offering brokers the ability to purchase FXP at the prevailing market price, plus a discount. This provides leverage to brokers that choose to use our platform. Brokers can choose to manage their own risk and profit by using their leverage and deciding how much of their FXP they would like to allocate to traders.
– The online FXPay wallet works smart for depositing and transferring your FXP and credit online.
– Offers an Eco friendly community of premium investors who facilitate the Forex trading through partnership and contributes redeemable cash back bonuses for the use of Forex credits.
– Offers a medium of a speedy and risk free conversion of flat currencies into FXP tokens.
– One of the most secured gateway of payment for its traders online.
– No middle man involved as the company takes full control as its own liquidity provider.
– Its smart contracts saves you 90% of your digital ledger with a smart legal embedding.
– Every private and pre-ICO participator of the FXPay community can enjoy this bonus as Forex credit.
In relation to the FX industry, one of the main ways in which blockchain will have an impact is in terms of decentralisation. As blockchain is a reliable, permanent way to recorded information – be that transactions, currency prices, or anything else – it offers the FX industry the unique opportunity to decentralise record keeping and increase the availability of the information being stored.
As well as giving more power to smaller traders and startups, this is giving individuals and companies the ability to exchange money peer to peer rather than going through central banks, something that could really change the way the industry operates.
As blockchain grows, it’s likely that the technology will be adopted by central banks and other major financial institutions. This will help to make the FX industry more efficient and more open and will change the way companies, banks and individuals trade currency for good. With new innovations happening every day, the future of blockchain is more exciting than ever.
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Published by: Kontolq_Abo
MyEtherWallet address: 0xb7742Bb562b6acf9FAfAFFf3368D37972F671959