WandX, a Singapore-based crypto token trading startup, recently announced a planned partnership with foremost advisory and worldwide Fintech-RegTech venture Blockchain Worx for creating one-of-a-kind decentralized token products meant at assisting crypto investing to go normally. Through this partnership, both the companies will team up to make themed pick-and-trade ‘token baskets’ with the help of WandX’s proprietary Basket Protocol.
The ‘Basket Protocol’, that was previously launched in May 2018, allows the creation of an amalgamated basket of tokens using an Ethereum smart contract; the basket does tradable at one go. Besides being profitable, this method lets individuals as well as recognized users to balance crypto holdings, indorses all-in-one token portfolio creation and provides cool risk management. Currently, the team has made accessible two pilot token baskets including of a curated set of decentralized crypto exchange tokens and crypto exchange tokens, available on the exchange website.
As WLBT reported, 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.
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.
According to Abhinav Ramesh, CEO of WandX, the company is happy to partner with Blockchain Worx to generate one of the first baskets which allow crypto users to buy into Crypto Exchange Tokens and Decentralized Exchange Tokens effortlessly, hence making it easy for new workers to participate the crypto market.
As per Bitcoin Exchange Guide, both the companies will be doing much more in enhancing their services. This is not all as earlier this year the Blockchain Worx become an Approved Sponsor Firm that is part of the GBX, referred to as the Gibraltar Blockchain Exchange.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]