Crypto

Tron Enters Global Forex Markets with Latest Partnership

John McMahon | June 6, 2018 | 10:00 am
Tron TRX
Crypto

Tron Enters Global Forex Markets with Latest Partnership

John McMahon | June 6, 2018 | 10:00 am

In a week of already blistering activity, the Tron Foundation is now bringing TRX trading into the currency markets through a deal signed with Shift Markets.

TRON Now Available on FX

TRX, which has already been listed on three other exchanges since the MainNet Launch less than a week ago, is now available on nine brokerages in nine different countries. The new deal with Shift Markets will also make the token accessible through the global Forex Trade markets giving it entry into both the UK and India, increasing the number of its brokers from nine to ten.

The new partnership will see the first UK regulated exchange trading TRX in the near future while JM Financial, one of the leading regulated brokers in India, will have TRX on offer next week. Ian McAfee, CEO of Shift Markets was quoted in Business Wire as saying,

We are excited to bridge the gap between the FX and crypto markets with a popular and exciting project like TRON, the demand from FX has been enormous, and we anticipate more and more crossover between the two markets.”

Shift Markets bills itself as a ‘turnkey brokerage package that includes trading technology, liquidity, risk management, compliance, sales and marketing. Clients include start-up, middle market, and established FX, CFD and Cryptocurrency brokerages. The firm’s services span from startup phases to maturation and exit. Established in 2009, Shift’s team of professionals services a global base of clients from its New York City headquarters’ according to its own website.

TRON’s Founder Justin Sun described the benefits of the deal saying,

“TRON’s partnership with Shift Markets marks a major expansion in the availability of TRX and fiat trading. We are proud to play a prominent role in joining cryptocurrency and FX markets across the globe.”

Tron Putting Irons in Many Fires

This partnership with Shift Markets comes on top of a spate of activity for TRX as Tron has announced the token being listed by the Max/Maicoin, the largest trading platform in Taiwan, and Indodax, Indonesia’s dominant exchange. Tron has also signed with CoinEx which is marking the deal by giving away $1.3 Million worth of TRX among its native token holders.

Perhaps the frantic deal signing on Tron’s part is having some effect on TRX’s trading price as it gained nearly 3% over the last 24 hours trading, at the time of writing at $0.06, though still in the red by almost 7% over seven days according to livecoinwatch.com.

 

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