SpotOption Creates Blockchain Trading Platform

Announcements, Blockchain, FinTech, Investing | August 25, 2017 By:

Derivatives trading technology developer SpotOption is creating a blockchain-based peer to peer (P2P) trading platform via its new subsidiary, SpotChain.

Through SpotChain, traders can exchange smart contracts that automatically allow them to settle transactions in real time.

“Banks and governments are turning to blockchain technology to solve conflicts, and so shall we,” said Pini Peter, CEO of SpotOption. “This is the kind of real problem-solving technology that the industry has been waiting for.” Peter added that SpotChain guarantees that the obligations of online operators will be automatically enforced.

SpotOption recently announced the addition of cryptocurrencies to its latest platform, Spot5. Over 30 cryptocurrencies will be available for Spot5 broker clients, including bitcoin, Litecoin, ethereum, Ripple, Dash, and more. Deposits can be made through a bitcoin e-wallet and payments can be processed with either USD/EUR/GBP.  Operators are not exposed to any exchange rates.

Established in 2010, SpotOption is a privately held platform software provider based in Israel for the binary option industry. It has developed a regulated solution for the autonomous brokerage. The SpotOption CRM has the Spot+ automation system, which allows brokers the capability to become autonomous.