BUX, a Dutch retail brokerage platform, announced on Wednesday the launch of its crypto platform, offering commission-free trading services.
Dubbed BUX Crypto, the public launch of the crypto-specific platform across Europe followed its soft launch in early March.
“We see BUX Crypto as a natural extension of our current lineup, which is focused on offering products that make it simple and affordable for even the newest investor to get into the financial markets,” Nick Bortot, founder and CEO of BUX, said.
Initially, the platform will list six digital currencies for trading – Bitcoin, Etheruem, Ripple, Bitcoin Cash, Litecoin, and its native BUX token – and allow trading against euro.
Zero-fee services, but with a catch
Though touted as a commission-free platform, traders holding at least 2,500 BUX tokens will be able to receive zero-fee crypto trading services.
BUX acquired Blockport, a “social” investment platform, in January and rebranded it as BUX Crypto, putting it in the company’s lineup of trading and investing products.
BUX Crypto will register with the Dutch Central Bank (DNB) as a cryptocurrency services provider and is now available in 25 European countries.
“Since launching BUX in 2014, we have been developing apps that fit the needs of a new generation of investors. Part of our current offering allows users to invest in shares at zero-commission in an elegant, intuitive interface,” Bortot added.
“Following the official launch, BUX Crypto will be focusing its product development strategy on creating social-driven investing features.” Sebastiaan Lichter, head of product at BUX Crypto, said. “As a company that values its community, the product roadmap will focus heavily on building unique features that can bring both beginners and advanced investors together to learn from each other.”