HONG KONG, November 8, 2018
HONG KONG, November 8, 2018 /PRNewswire/ --
In a bold and strategic move to help strengthen its regulatory footprint and presence in Europe, trade.io has entered into an agreement to acquire FCA regulated, Primus Capital Markets UK Ltd, which currently holds an IFPRU 125K Matched Principal License.
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The company will be rebranded as TIO Markets and will offer the powerful combination of FX trading utilizing crypto assets as base currency. Clients will initially be able to utilize Bitcoin, Ethereum, Litecoin, along with trade.io's native utility token, TIOx, to access the FX platform. Those using TIOx will be offered substantial commission discounts, tighter spreads and other incentives.
trade.io's CEO Jim Preissler commented, "The acquisition of Primus Capital Markets will allow the company the opportunity to aggressively expand into the UK and the European region. With an FCA regulated business, it also provides management the opportunity to display to our clients that we are striving for a higher standard and welcoming regulation rather than avoiding it."
Preissler continued, "There are many similarities to crypto and FX trading, and by marrying the two and offering it under one of the most respected regulatory regimes in the world, it makes for the perfect acquisition."
Managing Director of Primus Capital Market, Damian McDowell, who also serves as Director at trade.io, also commented, "My staff and I are very excited about this acquisition. The team at Primus Capital Markets has extensive experience in the FX industry and has built a significant database of traders that will benefit from this relationship.
"trade.io is becoming a major player in the crypto space, and our clients will be extremely impressed with the Forbes CryptoMarkets partnership and other value adds they have in the pipeline. This was a natural fit for both firms, respectively."
Further details of TIO Markets, the FX platform and offering will be shared closer to launch which is expected during Q4, 2018. Along with its crypto exchange, trade.io also offers the industry leading liquidity pool which allows clients to participate in the company's success. A portion of revenue from TIO Markets will be allocated to the liquidity pool, adding yet another source to enhance the liquidity pool performance.
trade.io is a next-generation financial institution based on blockchain technology, comprised of its Exchange, Consulting Services, Incubator and Liquidity Pool which allows holders of its utility token "TIOx" the ability to participate in the growth of the company. By leveraging decades of experience in the investment banking, trading, fintech and compliance and combining them with the power and transparency of the distributed ledger, trade.io has created a truly unique platform built to grow and adapt as the blockchain industry continues to mature. trade.io is an equity investor in Forbes CryptoMarkets along with Forbes and NewCity Capital.