A new partnership was announced this Thursday between Bittrex, the US crypto exchange, and the London-based fintech firm, Invest.com. Together, the two plan to create the ultimate crypto exchange to focus on providing its services to individuals and businesses in the EU.
New EU-based crypto exchange to be launched
The new partnership comes at a time when Invest.com decided to go full crypto. The firm, which dealt in equity, algo, and derivative trading, as well as portfolio management, has decided that cryptocurrencies are the way to go. Not only that, but they also stated that they will solely operate with cryptos from now on.
With a decision like that, the firm seems like a perfect partner for Bittrex, so the two will launch a new crypto exchange. The exchange will go under Invest.com’s brand, but Bittrex will be selecting the coins for offer. So far, the number of cryptos that the platform will support has reached about 200 altcoins.
Invest.com’s contribution to the deal includes the expertise and experience of its well-established team.
What do we know so far?
Reports say that the exchange will initially focus on the EU market and the partners have revealed plans to go global in the future, once the exchange has settled and business stabilizes. Invest.com’s spokesperson confirmed that the two companies aim to create a reputation in the EU for now, after which the exchange will start to expand to other countries.
Bill Shihara, the CEO of Bittrex, has commented on the partnership, saying that he believes that it will grow their business and will increase vital access for customers to new blockchain projects. Additionally, they will have the opportunity to help with revolutionizing this technology, which in turn will help drive adoption.
So far, the companies have not make it clear when the exchange’s official launch can be expected. However, many have shown enthusiasm about the project and numerous traders have already pre-registered for an account. Invest.com has encouraged this by saying that the exchange will be very user-friendly and that even the new traders will be able to find their way around.
This is not the first time that these two companies have attempted to establish a partnership, having already announced a partnership back in February of this very year, the retail market by the name of Zodiac. So far, the platform has not be launched, and no new information regarding the progress of the project has been released since.