The cryptocurrency industry continues to grow and evolve on a global scale. Several Asian countries have displayed an open-minded attitude toward Bitcoin. Hong Kong is one of those regions where cryptocurrency can flourish. As such, IronFX and EmurgoHK are launching their own regulated exchange in the country.
More competition among crypto trading platforms is always positive. It allows consumers to gain exposure to Bitcoin and altcoins in a convenient manner. With the backing of a leading global online broker, the IronX Exchange will be a venture to keep an eye on. Its main focus is to enable mass retail online trading for Bitcoin as well as a few other undisclosed cryptocurrencies.
IronX Exchange is a Major Undertaking
IronFX and EMurgoHK are joining forces for this particular venture. With a strong focus on existing knowledge and the financial liquidity and infrastructure needed, this new trading platform will undoubtedly be of great interest. A unified platform where users can use cryptocurrency to achieve margin trading positions is one of the ventures the teams aim to explore in the future.
IronFX Group CEO and Chairman Markos A. Kashiouris adds:
“We are delighted with the success of our private token sale amidst difficult market conditions. This reinforces the need we recognized for a regulated and service-focused exchange to facilitate trading via both FIAT and cryptocurrencies in a seamless trading ecosystem combining crypto and traditional online trading. With this Joint Venture, the IronFX Group will provide access to the mass retail market through its deep order book, customer-centric approach and ready-made connection to existing exchanges and liquidity providers.”
It is worth nothing EmurgoHK is no stranger to cryptocurrency. This is the developer of the Cardano blockchain and the ADA cryptocurrency. As such, it is in their best interest to provide sufficient liquidity for the IronX exchange by having ADA listed. Although this altcoin still has everything to prove, it is ranked in the cryptocurrency top 10 by market cap.