The US-based cryptocurrency exchange Bittrex will launch a new virtual currency trading platform for EU citizens in co-operation with the UK-based fintech firm invest.com, the two companies announced on Thursday.
The partnership mirrors a decision by invest.com, which has been active until now in derivative trading, algo-trading, portfolio management and equity trading, to shift focus towards cryptocurrency. As it noted on its website, the fintech company will from now on solely operate within digital currencies.
The new crypto marketplace will launch under the invest.com brand and will offer trading with around 200 digital coins – a selection provided by Bittrex. For its part, invest.com is said to contribute with its team of trading experts and investment management expertise.
While the initial focus of the exchange will be the EU market, Bittrex and invest.com are planning to expand its reach to other markets in the future.
Invest.com spokesman and co-founder of the new platform Itai Avneri confirmed this, and said that the two firms would first seek to build a reputation in the EU, later on expanding to “numerous countries around the globe.”
On a similar note, Bittrex CEO Bill Shihara expressed his belief that the partnership will “increase customers' access to some of the world's most innovative blockchain projects and further drive adoption of this revolutionary technology.”
When exactly traders will be able to access the new service was not made clear, but traders can already pre-register for an account on the exchange. According to invest.com, the exchange service is suitable for both new and experienced traders.
It is interesting to mention that back in February, Bittrex CEO and invest.com announced another partnership – a crypto exchange aimed at the retail market called Zodiac. The platform has not been launched yet and information about it is not abundant on the web.