Cryptocurrency exchange market is about to witness a huge shift with the latest stake purchased by Bittrex in a blockchain based firm. It is one of the busiest exchanges in the world ranking at the 20th position as per its daily trade volume. Bittrex has recently brought a 10 percent stake in a distributed ledger technology firm Palladium, a platform approved by the Malta Financial Services Authority (MFSA). Their project is focused on the elimination of hassles while making payments with crypto assets or buying virtual coins from bank accounts.
According to Bitcoin Exchange Guide, Palladium is said to have one of the most ambitious projects worldwide which have made an alliance with Bittrex earlier this year in July. This project is even termed as world’s first initial convertible coin offering (ICCO) by some experts.
The cryptocurrency exchange market has envisioned with such collaboration and has been making a huge shift in terms of operations.
Palladium And Its Objectives
The Palladium team reveals that investors will receive a tokenized convertible warrant regulated by a prospectus which is approved by the MFSA. In addition to this, it works in accordance with strict European Union crypto guidelines. In addition to this, three years later from the date of issue the investors will be able to switch the tokens into Palladium shares.
The launch of the token presale at the Malta Stock Exchange was attended by esteemed officials of Maltese government such as Prime Minister Joseph Muscat and Financial Services Parliamentary Secretary, Silvio Schembri (via BTC Manager).
Palladium Founder and Chairman Paolo Catalfamo stated that Bittrex’s investment in their venture is a confirmation of Malta’s positive stand towards regulation of blockchain technology and management.
The cryptocurrency exchange market of Bittrex is aiming to provide a platform for the adoption of crypto coins at a global level and creating job opportunities in this domain. By making a unique network it is also working to solve the problem of incompetence in crypto asset management and their regulations.
The post Cryptocurrency Exchange Market Update: Bittrex Purchase 10 Percent Share In Blockchain Firm appeared first on OWLT Market.
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