What is Finxflo and why should you be interested?
Amid cryptocurrencies’ growing popularity and the subsequent rise of crypto brokerages, the question for many traders and investors remains: CeFi or DeFi?
With this in mind, Finxflo was founded in late 2019 by CEO James Gillingham and CTO Thomas Plaskocinski. Headquartered in Singapore, it is touted as the world’s first multi-jurisdictional, regulated crypto prime brokerage and liquidity aggregator, designed to provide traders and investors with the best rates from leading CeFi and DeFi protocols.
One account, one KYC, one wallet
One of Finxflo’s key features is its facilitation of portfolio management for traders through a single account, know-your-customer (KYC) process, and wallet, so users can optimise their trading and investment strategies.
The wallet, which requires users to submit their documents only once, can be accessed via a web browser or Finxflo’s mobile application (available for both Android and iOS). It is also MPC-encrypted for maximum security, ensuring safe custody for clients by holding their funds in segregated vaults to minimise the risk of theft and hacking.
Users can then buy crypto with either a credit or debit card, trade prominent cryptocurrencies at fees of just 0.1%, and can even make same-day withdrawals without incurring any fees.
Maximum ease, maximum benefits
In keeping with its prioritisation of accessibility, Finxflo’s demo trading feature gives inexperienced traders the opportunity to familiarise themselves with the platform’s trading interface, which features single-click trading and access to multiple markets.
To further benefit traders, the platform’s proprietary smart order routing algorithm is designed to show them the optimum price of any digital token by distributing orders to multiple exchanges. Its global aggregator tool is designed to provide the best bid / offer, regardless of trade size.
Additionally, retail traders can access preferential transaction fees typically available only to high-night worth individuals, with a hybrid pricing system affording them effective trading tools.
The firm also maintains a consolidated global order book that offers access to numerous parameters, such as the number of different cryptocurrencies under one unitary portal, making it easy for traders to manage their diversified portfolios.
At the same time, Finxflo’s dark pool trading function eliminates market inefficiencies while facilitating swift movement in and out of any trade, allowing investors to trade without exposure until the trade has been executed.
In addition to protocol aggregation and crypto brokering, Finxflo has developed a native currency, the FXF Token, which can be used in trading on its platform, as well as to facilitate the distribution of rewards. Simultaneously an ERC20 and TRC20 standard token, it connects two previously detached technologies as it will utilise two blockchains, Ethereum and Tron.
This makes the FXF Token a natural blockchain 3.0 asset that supports cross-chain interoperability, making it possible to trade previously impossible pairs and therefore, presenting ample opportunity for arbitrage.
What’s next for Finxflo?
The firm is all set for international expansion, having established four structured corporate entities: its headquarters in Singapore, as well as offices in New York, California and Cyprus. It is also in the process of obtaining the relevant regulatory approvals for each of these entities.
At the same time, Finxflo is gearing up for exciting new partnerships and platform upgrades, which it will announce in the coming months.