As per a Finance Magnates report, the entity will initially be available for investors only in the EU region. Interested parties can currently access the pre-registration platform, although the actual trading will begin later in 2018.
The Bittrex trading engine, along with its 200 listed digital tokens, will be integrated with invest.com’s framework of derivative trading, portfolio management, and equities.
Invest.com co-founder Itai Avneri expressed his excitement for the joint venture with Bittrex, noting that innovation and determination are the two pillars which invest.com and Bittrex work on and the new brand will “take a strategic step forward in the emerging crypto industry.” Avneri added:
“We believe that excellent product experience coupled with supreme customer support, value-added services and regulation state of mind will provide the community of traders with the ultimate platform to trade cryptocurrency in a safe and secure environment.”
While the exchange will initially open to the EU market, the companies confirmed their plans to include other markets in “the near future.” However, they explicitly mentioned the presence of strict regulations and international laws as a focal point of their expansion plans.
Launched in 2014, invest.com offers derivative trading, portfolio management, equities, and algo-trading and equity trading services across 31 countries in Europe. However, a slew of regulatory laws and licenses lead to the company shutting down its investment services and ceasing new clients and deposits on April 9, 2018.
Now, the brand has turned its focus on the burgeoning cryptocurrency market in hopes of a resurgence. Bill Shihara, CEO of Bittrex, expressed his thoughts on the partnership:
“This partnership will increase customers’ access to some of the world’s most innovative blockchain projects and further drive adoption of this revolutionary technology. Today’s announcement is another exciting step forward for the industry and Bittrex as we continue expanding our global footprint through new services and strategic partnerships.”
Bittrex joins a number of cryptocurrency exchanges in their expansion plans. While Huobi, Bitfinex, OKEx, and Binance have expanded their jurisdictions in a significant capacity, 2018 has also witnessed the resurgence of the world’s earlier cryptocurrency exchanges: BTCC.
Huobi Announces Australia Move
Huobi, the world’s third-largest cryptocurrency exchange by daily traded volume, quietly announced the launch of its Australian subsidiary on July 5, 2018. The entity sees Huobi partner with Blockchain Global, a blockchain technology commercialization and investment company.
At the time of press, ten cryptocurrency-fiat trading pairs will be available against the Australian dollar, including bitcoin, ether, Litecoin, Ethereum Classic and Bitcoin Cash. The exchange confirmed in its announcement that additional pairs would be available in the future.