According to CoinDesk on the 19th (local time), Saxo Markets, a digital investment subsidiary of Danish investment bank Saxo Bank, Announced the start of fiat currency trading service.
This product is initially available in the Saxos Market in Singapore. The fiat currencies associated with Singapore and Australian customers include Euro, US Dollar and Japanese Yen. Saxo’s marketing spokesman predicts “we will launch products in other key markets in the coming weeks.”
Earlier in 2017, Saxomarket launched an ETN product that tracks Bitcoin and Ethereum. The new product released this time aims to complement the company’s existing encrypted tracking service and ETN series products. All cryptocurrencies involved in the transaction will be in the form of derivatives, not actual cryptocurrencies. Individual investors can trade margin at 60% margin and eligible investors 40% or 50% margin.
(Saxo Markets, the digital investing subsidiary of Danish bank Saxo, has launched a service enabling trading of three top cryptocurrencies in FX pairs.)
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Author/ Translator: Jamie Kim
Bio: Jamie Kim is a technology journalist. Raised in Hong Kong and always vocal at heart. She aims to share her expertise with the readers at blockreview.net. Kim is a Bitcoin maximalist who believes with unwavering conviction that Bitcoin is the only cryptocurrency – in fact, currency – worth caring about.