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Wednesday, July 28, 2021
Home News Market Demand For Sophisticated Crypto Trading Methods Drives Singapore's Broctagon Fintech Group...

Market Demand For Sophisticated Crypto Trading Methods Drives Singapore’s Broctagon Fintech Group To New Heights – Pushing Them Past $5 million

Singapore centred provider of multi-asset liquidity, brokerage and blockchain solutions, Broctagon Fintech Group, surpassed $5 million in turnover earlier this month, following a highly successful year which has been marked by significant growth, largely fuelled by demand for its crypto contract for difference (CFD) offering.

Don Guo, CEO of Broctagon, said:

“We’ve been developing fintech solutions for the forex space for over a decade, and saw a unique opportunity in crypto to leverage our experience for a budding market. The crypto markets show no sign of slowing down, and as they continue to grow and mature, we will remain at the forefront of fintech innovation.”

The demand stems from experienced traders entering the crypto markets as mainstream adoption of cryptocurrency looks increasingly likely.

Broctagon – with a 300 strong team housed in offices in Singapore, Hong Kong, Cyprus, India and the United Kingdom – has seen its CFD solution taken up by 30 new clients since the start of the year. The solution allows investors to take long or short positions on a given underlying digital asset which creates opportunities to profit from downward price movements through short selling, as well as maximising profits and hedging against the risks posed by the famously volatile crypto markets.

The demand Broctagon has been experiencing is not only from retail or professional crypto investors. As a regulatory framework evolves, and governments in countries like China are showing their support for crypto, institutions are also looking to get a slice of the digital pie. Take CME for example, which is currently seeing record-breaking demand for its Bitcoin futures, or the crypto platforms from ICE and Fidelity, both of which are undergoing the application for New York trust licences.

Cryptocurrencies are leaving their ‘Wild West’ days in the rear-view mirror, and seasoned traders are paying attention. As their involvement increases, they want the same trading options available to them as in the traditional financial markets. As a result, Broctagon’s CFD offering is only one piece of the puzzle when it comes to its vision: to bring crypto trading to reach the liquidity, level and efficiency of forex. Consequently, Broctagon is also offering tools such as price history, algorithmic-based trading signals for crypto traders and even a liquidity engine to connect prime brokers and exchanges, enabling market participants to conduct more sophisticated trades than ever before and allowing firms to provide professional trading environments to their clients.

Richard Kasteleinhttps://www.the-blockchain.com
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, the Netherlands where he has set down his anchor to raise a family and write. Founder and publisher of industry publication Blockchain News (EST 2015) and director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He has written over 2500 articles on Blockchain technology and startups at Blockchain News and has also published in Harvard Business Review, Venturebeat, Wired, The Guardian and a number of other publications. Kastelein has an Honorary Ph.D. and is Chair Professor of Blockchain at China's first blockchain University in Nanchang at the Jiangxi Ahead Institute software and Technology. He has over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division. Kastelein has spoken (keynotes & panels) on Blockchain technology at over 50 events in 30+ cities.
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