SpotOption has just announced that it is launching a blockchain-based trading platform. The company says that the solution is to be launched via its new subsidiary, SpotChain.
According to SpotOption, the platform is a peer to peer exchange focused on decentralization. The company elaborated in its announcement that traders can exchange smart contracts between themselves that automatically allow them to settle transactions in real time.
Pini Peter, CEO of SpotOption, commented in the announcement: ”Banks and governments are turning to blockchain technology to solve conflicts, and so shall we. This is the kind of real problem-solving technology that the industry has been waiting for.”
“SpotChain guarantees that the obligations of online operators will be automatically enforced, and this kind of irreplaceable trust between broker and trader will bring success and prosperity to the industry on a whole new, revolutionizing level,” the CEO elaborated.
SpotOption recently announced the addition of cryptocurrencies to its latest platform, Spot5. The company added cryptocurrency trading across its multi-product solution, including CFDs, MT4 Plug-In, etc.
Over thirty cryptocurrencies will be available for Spot5 broker clients, such as Bitcoin, Litecoin, Ethereum, Ripple, Dash, and more. Deposits can be made through a Bitcoin e-wallet and payments can be processed with either USD/EUR/GBP. SpotOption explained that operators using the platform will not be exposed to any exchange rate risk.