November 9, 2018 at 04:30
November 9, 2018 at 04:30 and nbspUTC
Cryptocurrency exchange Trade.io has been acquired by FCA, a brokerage company Primus Capital Markt Ltd. With the new subsidiary Trade.io, it will start trading with foreign currency using cryptocouples as the base currency under the new name TIO Markets.
Primus Capital Market has UK Regulators licensed IFPRU 125K as the Main License. The permit allows the company to invest as principal with a certain degree of strict capital and management requirements. The company was founded in 2008 and has become a leader in the FX and Metal Trading market. Primus Capital is authorized and regulated by the Financial Management Authority (FCA).
According to Executive Director of Trade.io, Jim Preissler, the acquisition of Primus Capital is a strategic step Trade.io, which will consolidate the regulatory status of the company in Europe. Preissler said that
"Through FCA's regulated business, the company allows the company to show its customers, we strive for a higher standard and we welcome the arrangement, instead of avoiding it."
Now, customers will be able to deposit and withdraw into Bitcoin Core, Litecoin, Ethereum and TIOx on the forex platform. TIOx token issues the crypto trading platform Trade.io. Customers using TIOx will receive various incentives, such as commission discounts, stricter distribution, and more. With Trade.io, the destination becomes one-stop shop for more funds. Purchasing will help Trade.io expand its product range.
That's what Jim Preissler said
"The takeover of Primus Capital Markets will allow the company to aggressively expand into the UK and the European region."
Jim also spoke about the similarities that exist between cryptic and forex trading. Jim said that the company could offer the acquisition of digital assets in accordance with the most respected regulatory regimes in the world.
Commissioner Damijan McDowell has said that Primus Capital Markets commented on the takeover
"Primus Capital Markets has a wealth of experience in foreign currency and we have built an important collection of traders that will benefit from this relationship. It was naturally suitable for both companies."
Trade.io is a Hong Kong-based cryptocurrency exchange, which also offers advisory and cryptoid investment related to coin offering (ICO).