Nick Chong · 2 hours ago · 2 min read
Bittrex › Seattle › Adoption
Bittrex Invades Europe: Partnership With Invest Will Launch New European Exchange
Seattle-based cryptocurrency exchange Bittrex announced the upcoming launch of a new cryptocurrency exchange focusing on the European market. In partnership with Invest.com, the new exchange will open to European Union customers and operate under the Invest.com brand name.
The new Bittrex exchange will see the fifth-largest cryptocurrency trading platform by 24-hour volume, team up with European-licensed Invest.com to offer derivative trading, portfolio management, algo-trading and equity trading alongside professional cryptocurrency trading functionality.
Together with https://t.co/A9qgek7HL8, we’re announcing a new partnership to launch a digital trading platform that will initially focus on EU customers. https://t.co/miSCiXfsT1 pic.twitter.com/JqyI3SzYEZ
— Bittrex (@BittrexExchange) July 5, 2018
Bittrex Jumps Across the Pond
Both Bittrex and Invest.com have operated within the fintech ecosystem since 2014. While details on the upcoming exchange are scant, Bittrex confirmed that EU-based customers will be able to trade over 200 cryptocurrencies.
Bittrex CEO Bill Shihara commented on the partnership between Bittrex and Invest.com in a press release announcing the exchange:
“This partnership will increase customers’ access to some of the world’s most innovative blockchain projects and further drive adoption of this revolutionary technology. Today’s announcement is another exciting step forward for the industry and Bittrex as we continue expanding our global footprint through new services and strategic partnerships.”
The initial focus of the new Invest.com exchange will be traders and investors located within the European Union, but the platform intends to expand in scope into markets beyond the area. Services will be limited, however, to “qualified regions and countries” in which Invest.com is able to operate within applicable international laws and restrictions.
Itai Avneri, Invest.com’s co-founder of the new platform, stated that customer service and regulatory compliance are essential elements of the Invest.com exchange:
“We believe that excellent product experience coupled with supreme customer support, value added services and regulation state of mind will provide the community of traders with the ultimate platform to trade cryptocurrency in a safe and secure environment. Our goal is to become the most reputable platform in the EU and later in numerous countries across the globe.”
The announcement of the new European exchange is the third power move from Bittrex in 2018, following the recent overhaul of the Bittrex exchange platform and the integration of USD fiat support, allowing for the use of fiat currency to trade cryptocurrencies on the platform.