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ThinkMarkets to launch P2P trading blockchain platform, ICO – media

Mar 12 2018
By
Jonathan Smith

The forex and CFD broker ThinkMarkets  announced it is planning to launch TradeConnect – a blockchain based multi asset trading network and a native token ThinkCoin (TCO), reports LeapRate.


TradeConnect will be a decentralized P2P trading platform, where deals will be verified on the blockchain and will be settled much faster. The platform will be multi-asset and will allow investors (institutional and private) to trade between themselves wide range of financial products such as cryptocurrencies, equities, FX, commodities, etc. Initially ThinkMarkets plans to focus on the retail trading sector and to expand the network into the institutional and corporate derivative trading markets at a later stage.


According to the timeline, the TradeConnect Alpha will be released in May and the live beta for testing by select clients – in July. Cryptocurrency trading will be enabled in August and forex and CFDs. The integration of the existing ThinkMarkets clients will start in November. By December TradeConnect expects to obtain a US exchange license. Further down the line, the platform will also add physical equities, commodities, futures and other exchange products.


The ThinkCoin will be the native token to the TradeConnect blockchain and will be used to pay for trades, increase the liquidity pool and scale transactions. Only holders of the ThinkCoin will be able to trade on the network.


For now the token can be obtained at the pre-sale, which is currently ongoing and the pre-ICO sale that starts on March 26, 2018 and the ICO that starts on April 9, to close on April 27. The total supply of TCO will be 500 000 000, with 300 000 000 allocated through the ICO. The rest will be released for trading for fiat currencies and other cryptocurrencies (BTC, ETH, BCH, LTC) on select exchanges. The hard cap stands at USD 50,000,000.


Established in 2010, ThinkMarkets (formerly ThinkForex) offers trading in wide range of financial instruments to both retail and institutional clients. There are two companies behind the brand – F Global Markets (UK) Ltd., regulated by the UK Financial Conduct Authority (FCA), and TF Global Markets (Aust) Pty Ltd., licensed by the Australian Securities and Investments Commission (ASIC). The broker has offices in Australia, where it originated from, the UK, Australia, Chile, and the UAE.  


 

TAGS: thinkmarkets  tradeconnect  blockchain  thinkcoin  ico 

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