Finance Magnates - Bittrex and invest.com Announce New Cryptocurrency Exchange

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Bittrex and invest.com Announce New Cryptocurrency Exchange

The two companies have created a strategic partnership to launch a digital cryptocurrency trading platform.

Celeste Skinner

July 5, 2018


US-based blockchain trading platform Bittrex has announced today that it has partnered with fintech brand invest.com to launch a digital cryptocurrency trading platform.

The platform will be launched under the invest.com brand name and will only be available to investors in the European Union (EU) initially. Although the platform is not currently available, traders can pre-register for the platform now.

According to the statement, the cryptocurrency exchange will combine Bittrex’s trading platform technology and its selection of nearly 200 tokens, with invest.com’s experience in derivative trading, portfolio management, and equity trading.

Although the exchange will be initially available only in the EU, the two companies plan to offer the platform in other markets in the future. Nonetheless, it will only be available in qualified regions and countries, depending on international laws and restrictions.

invest.com’s changing direction

Following the implementation of MiFID II regulation, which has placed significant caps on leverage and advertising for retail brokers, firms who operate a trading platform have been forced to rethink their business structure. In some instances, it has also made companies change their direction to an unregulated industry, such as cryptocurrencies.

Previously invest.com operated a derivative and equity trading platform. However, as a result of the new regulations, Finance Magnates reported earlier this year that the company announced that its regulated subsidiary in Cyprus was closing its doors and voluntarily relinquishing its license. The move came only about ten months after the company announced that it was acquiring AnyOption, a binary options brokerage turned CFDs trading provider.

As of April 9 this year invest.com no longer provides any investment services and ceased accepting new clients to its trading platform. Following this, the brand announced it has narrowed its focus on the emerging crypto industry and aims to create a leading cryptocurrency exchange.

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