November 9, 2018 at 04:30
November 9, 2018 at 4:30 pm & nbs pUTC
Crisis currency Exchange trading.io has acquired FCA brokerage company Primus Capital Markt Ltd. With a new branch, Trade.io will start trading foreign currency using crypto currencies as the core currency under the new name TIO Markets.
Primus Capital Market has IFPR 125K major license from UK regulators. The license allows the company to invest as equity with a certain degree of stricter capital and management requirements. The company was founded in 2008 and became the market leader in FX and Metal Trading. Primus Capital is authorized and regulated by the Financial Behavior Body (FCA).
According to the CEO of Trade.io, Jim Preissler, the acquisition of Primus Capital is a strategic move by Trade.io that will strengthen the regulatory status of the company in Europe. Preissler said further
"With FCA regulated business, it gives management the opportunity to show to our clients, we are striving to achieve a higher level of standards and welcome, instead of avoiding it."
Now customers will be able to deposit deposits and withdrawals in Bitcoin Core, Litecoin, Ethereum and TIOx on the Forex platform. TIOx token issues the Trade.io cryptocaval platform. Clients using TIOx will receive various incentives such as discount rebates, widespread distribution, and more. With business, Trade.io becomes one destination for multi-component trading. Acquisition will help Trade.io expand its product offer.
In the statement, said Jim Preissler
"The acquisition of Primus Capital Markets will enable the company to aggressively expand into the United Kingdom and the European region."
Jim also talked about the similarities between cryptosurence and forex trading. Jim said that with the acquisition, the company would be able to offer digital asset trading under the most influential regulatory regimes in the world.
Commenting on the acquisition, said Damian McDowell, CEO of Primus Capital Markets
"Primus Capital Markets has extensive experience in the foreign exchange industry and (we have) built a significant database of traders who will benefit from this relationship. It is naturally a concern for both companies."
Trade.io is a cryptographic exchange based in Hong Kong, which also offers initial money supply (ICO) advisory and cryptovalence-related investments.