PayBitoPro Devising Innovative Forex-Cryptocurrency Links

Despite cardinal differences, Crypto and Forex are similar in more ways than one. The foreign exchange market operates in a decentralized model. And just like there are reigning fiats, there is similarly high-valued crypto.

Also Read: PayBitoPro Helps Clients Harness Its Forex Broker Solutions By Global Partnerships

What are CDFs?

Cryptocurrencies are virtual currencies that enjoy autonomy over their operations. They may be used for the purchase of commodities or traded in the form of Contracts for Difference (CFD) on a platform like PayBitoPro. Cryptocurrency trading occurs with their competing counterparts or against reigning fiat currencies like USD, GBP, and EURO. This makes up a Forex-Crypto pair.

How Are Crypto and Forex Similar?

Despite cardinal differences, Crypto and Forex are similar in more ways than one. The foreign exchange market operates in a decentralized model. And just like there are reigning fiats like USD, GBP, and Euro. There are similar major crypto, namely, Bitcoin (BTC), Ethereum (ETH), and Ripple coin (XRP).

Taking a cue of the prospect, global digital asset exchange PayBitoPro, shifts focus on developing crypto exchange solutions targeting Forex broking agencies. PaybitoPro’s crypto exchange solutions benefit Forex brokers with an edge with a cryptocurrency exchange.

CEO Speaks

“Cryptocurrency is a highly volatile and non-regulated asset class as opposed to Forex which is strongly regulated and enjoys the backing of a nation’s treasury. It is, therefore, not the right approach to mingle the two,” remarked Raj Chowdhury, Founder, and CEO of PayBitoPro.

The team behind PayBitoPro’s successfully running crypto exchange is currently devising features to enhance their crypto exchange solutions. Appending a risk management algorithm to its functioning should take the application several notches higher in terms of value. This may also open gates for wider acceptance and adoption of the asset class. The new software seamlessly integrates with the Forex trading sites. The option of accepting payment in the form of crypto opens the foreign exchange market inviting a broader range of investors.

“PayBitoPro team is constantly working to lead on the innovation front. We are working to devise ways to make our crypto solutions more adaptable to Forex investors,” added Chowdhury.

Also Read: PayBitoPro Expedites Cryptocurrency Trading: Ascents Their Financial Information eXchange

Looking Forward

PayBitoPro has undertaken several projects providing crypto exchange technology to several enterprises in the past. However, this project, if realized, should be unique. Therefore, the success of this project would be a benchmark for innovation in the fintech sector.

Source: https://www.yahoo.com/now/paybitos-innovation-bridging-foreign-exchange-070000946.html