- WandX, a Singapore-based crypto token trading startup, today announced a strategic partnership with leading advisory and global Fintech-RegTech venture Blockchain Worx for developing one-of-a-kind decentralized token products aimed at helping crypto investing go mainstream. Through this partnership, both firms will team up to create themed pick-and-trade ‘token baskets’ using WandX’s proprietary Basket Protocol.
The ‘Basket Protocol’, launched earlier in May 2018, enables the creation of a composite basket of tokens using an Ethereum smart contract; the basket itself tradable at one go. Apart from being cost-effective, this approach allows individuals as well as institutional users to balance crypto holdings, promotes seamless token portfolio creation and offers smart risk management. Presently, the team has made available two pilot token baskets comprising of a curated set of Crypto Exchange tokens and Decentralized Crypto Exchange tokens, available on exchange.wandx.co
What is particularly striking about WandX’s basket protocol is that it blends emerging digital assets on Blockchain technology with best practices from traditional financial instruments to create ready-to-invest crypto token portfolios on self-executing smart contracts.
"We are glad to partner with Blockchain Worx to create one of the first baskets which enable crypto users to buy into Crypto Exchange Tokens and Decentralized Exchange Tokens easily, hence making it easy for new users to participate the crypto market”, stated Abhinav Ramesh, CEO, WandX.
Floyd DCosta, Co-founder and CEO, Blockchain Worx, said "Interest in digital assets is rapidly growing. Individual and institutional investors are looking for ways to participate in the token economy. The token basket offers everyday folks as well as investment managers, a simple and structured approach to start building a portfolio of crypto tokens.”
Going forward, Blockchain Worx and WandX will explore curating baskets of security tokens, which will continue to evolve, thereby creating an ecosystem that supports new and smart instruments for crypto trading.
About Blockchain Worx
Blockchain Worx is a Singapore headquartered global Fintech-RegTech venture focused on helping institutions harness the potential of Blockchain technology for competitive advantage. Its turnkey solutions – including a Securities Tokenization platform and Digital Asset Marketplace as well as an Anti-Money Laundering application – are targeted at enabling organizations to create next-gen digital finance and regulatory systems, powered by Blockchain technology.
For more information on Blockchain Worx visit http://www.blockchainworx.com
Founded in 2017, WandX is building a one-of-a-kind decentralized ecosystem for trading and managing crypto tokens and token products smartly and seamlessly. The platform is currently based on Ethereum and supports decentralized trading of ERC20 tokens. WandX is also a proprietary protocol for creating and trading in "baskets" of tokens in one single transaction.
For more information on WandX visit https://www.wandx.co/
Join the discussion on WandX Telegram: https://t.me/wandxapp
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