The European Binaryx digital asset exchange has announced the launch of a dedicated services suite aimed at businesses. The new services allow companies to purchase, sell, store and operate digital currencies with risk mitigation.
Among the services offered by Binaryx is a Bitcoin investment facility that allows businesses to avoid directly storing or managing their portfolios, thus hedging risks.
Many businesses aim to hold cryptocurrencies to hedge risks, and we strive to create flawless services and conditions to help them allocate their funds in different assets to lower risks and achieve greater liquidity,” as Oleg Kurchenko, founder and CEO of Binaryx, commented on the launch of the service.
Binaryx also offers custody accounts, allowing companies to securely buy and hold and withdraw cryptocurrencies. Institutions seeking to buy or sell larger volumes of digital assets may access OTC trading services to avoid unfavorable price movements.
The current market for cryptocurrency investments is heating up, with some institutional investors accumulating considerable amounts of digital holdings in their portfolios or in specialized funds. The leaders on the market of crypto investments among institutionals are MicroStrategy, Galaxy Digital, Goldman Sachs, and several other asset management companies. Data from the CoinGecko tracking service indicates that around 5% of all Bitcoins in existence, or roughly 193,000 worth an estimated $6.5, are currently held by public companies. An additional 3% of Bitcoins are in the custody of Grayscale Capital – a major asset management firm.
The Binaryx development team is confident that the current bullish market presents vast opportunities for the fielding of crypto management services. Demand for asset management facilities from European companies seeking to invest in digital currencies is another factor stimulating the release of appropriate market offerings.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
