Broctagon Fintech Group Upgrades Crypto Depositing Systems For Brokers

News | June 30, 2020 By:

Broctagon Fintech Group has enhanced its cryptocurrency depositing system to privide brokers with greater flexibility to manage client lifecycles.

Broctagon Fintech Group specializes in prime liquidity provision, brokerage technology solutions and enterprise blockchain development. The firm is headquartered in Singapore with over 10 years of established global presence in China, India, Russia, Cyprus, Hong Kong, Thailand and Vietnam.

In a press release, the company said that its AXIS (Affiliate Expansion Integrated System) CRM has added over 40 new cryptocurrencies for brokers to accept deposits in. The update will allow traders to easily fund their accounts directly and trade all the different instruments available quickly while brokers will be able to open all their markets to cryptocurrency holders.

“The majority of brokers receive deposits through fiat, meaning crypto traders would have to exchange their cryptocurrencies before transferring into a broker system,” Broctagon said. “This eliminates that process and provides a much more convenient way for traders to deposit money than via bank transfer, which can take around 24 hours compared to about 15 minutes when deposited via a cryptocurrency – or under a minute in the case of Bitcoin. With brokers being able to accept these deposits, the traditional financial markets will be more open to crypto holders who might be looking to diversify their assets.”

Ted Quek, Chief Technology Officer of Broctagon Fintech Group, said that they’re fully committed to giving their clients the tools they need to extend their market reach.

“We’ve worked closely with brokers who have custom needs, so flexibility and easy integration is a core component of how we have designed our platform,” Quek said. “It’s built for purpose. We anticipate all our existing clients will want to take up this upgrade. Conveniently, it only requires one simple configuration to connect to all of the benefits. The timing of expanding these capabilities and increasing accessibility is significant. The market is more mature and seeing an uptake as investors seek to hedge their positions in the current market. It is significant that there are now many more crypto holders than when the market boomed in 2017. Where prices go from here has yet to be seen, but this will help improve efficiency in the market and is another example of cryptocurrency trading closing the gap with traditional financial markets.”