Cryptocurrency holders can now put their assets to good use, instead of waiting for the next big bull run. The Panxora cryptocurrency exchange has introduced a new feature that will allow its users to invest in traditional stock markets using crypto. However, instead of having to sell the assets, Panxora will allow them to be used strictly as collateral. This is an important distinction, since users won’t be forced to give up their holdings.
According to an announcement on the company’s website, users can trade in live stocks, fiat currencies, exchange-traded funds and other asset classes. It indicates that it will provide trading opportunities for more than 500 stocks, including Apple, Adidas, EasyJet, Deutsche Borse and Lenovo, that are available in the U.S., the UK, Germany and Hong Kong.
Trading is possible through more than 12 cryptocurrencies, including Bitcoin BCH, Bitcoin Core (BTC), Ether (ETH), Ether Classic (ETH) or Litecoin (LTC). All earnings are paid directly into the user’s account through BTC. The exchange will allow users to leverage up to five times the amount of their holdings to invest in the stock market. Additionally, crypto assets can be traded at a rate of one-to-one.
The concept was created to help crypto holders earn profits on their assets. Says the company, “[Panxora] gives crypto owners a better option than simply sitting on their assets. As with any other capital, investors should have the opportunity to use their cryptocurrency to try to generate a return. Panxora delivers on that promise, giving cryptocurrency owners direct access to currency, stock and a variety of other asset classes through ETF trading without having to trade out of cryptocurrency first.”
The company’s CEO, Gavin Smith, added, “Right now, Panxora is an exchange that gives cryptocurrency holders direct access to various currency and stock markets. But that’s just the first step in our ultimate goal to dissolve the distinction between fiat and cryptocurrencies when it comes to financial opportunities. Looking ahead, we will continue to bring ever more choice within reach of crypto asset owners. Everything we do, in every field, is aimed at that goal.”
Panxora was previously known as First Global Credit. It only changed its name this month and has been in the cryptocurrency industry for over four years. It has offices in London and Hong Kong and has previously offered futures trading on the London Stock Exchange, as well as other products that were designed to help close the gap between fiat and crypto.
Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
The post Crypto exchange offers stock market trading with crypto as collateral appeared first on Coingeek.