Straits Financial LLC will be the first US Futures Commission to accept bitcoin through processing service BitPay. The firm has announced it will enable Bitcoin deposits for investments in commodity markets that include stocks and precious metals.
Straits Financial US Futures Commission Clients Can Now Use Bitcoin
Singapore-based Straits Financial offers a multitude of trading vehicles, such as commodity futures, OTC markets, and derivatives.
Straits Financial says that Singapore has firmly established itself as Asia’s international financial hub. The company says it aspires to keep the country’s role in finance flourishing. By collaborating with BitPay, the brokerage house will give its clientele access to certain markets using Bitcoin.
The company is making strategic moves to continue expanding its trading services, recently obtaining a Capital Market Service License from the Monetary Authority of Singapore. Straits tells press that partnering with BitPay will help expansion.
The firm explains how offering bitcoin acceptance will enable more customers to trade equities, energies, metals, forex, and agriculture investments. Straits Financial LLC President Joseph Mazurek states in the announcement:
This is a great next step for Straits and the industry. BitPay will help customers to easily convert their bitcoin holdings into currencies that can be used to fund their futures trading accounts and will provide the bitcoin community easier access to an alternative suite of investment options.
Cross-Border Transfer Firm WB21 Joins the Partnership
BitPay’s Chief Commercial Officer Sonny Singh says bitcoin is one of the fastest and most secure ways for investors to fund trading accounts. Singh tells press that BitPay is thrilled to work with Straits Financial, hoping to make bitcoin a “fixture in futures trading.”
Additionally, the company WB21 will help both services with cross-border transfers, with the goal of making them faster than traditional institutions. Singh explains, “WB21’s real-time cross-currency conversion just makes this a better option for international trading.”
Ading to Singh’s comment, WB21’s CEO Michael Gastauer says the firm’s real-time Bitcoin funding and multi-currency banking system it will give clients fast and convenient solutions for funding their trading accounts.
With Straits Financial allowing bitcoin, investors will now have more opportunities to diversify their portfolios. Straits says accepting bitcoin opens the company to a broader customer base, reaching out to investors who prefer to pay with cryptocurrency.
What do you think about Straits Financial offering Bitcoin funding for futures and commodity investments? Let us know in the comments below.
Source: Finance Magnates
Images courtesy of Shutterstock, Straits Financial, WB21.
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