Qtum, an open source public blockchain platform for decentralized applications and smart contracts, announced today that its native cryptocurrency, QTUM, can now be used to invest in traditional markets on mobile trading app Quantfury.
The partnership is designed to help Qtum’s Asian user base, which has typically been unable to benefit from the stability of Western markets. This initiative comes at a time when the cryptocurrency market has suffered a massive downturn which increased the need for mainstream adoption.
“We’re thrilled to offer Qtum holders more frictionless ways to use their tokens. From investments to payments, our users have access to a number of powerful and cutting-edge financial tools,” said Miguel Palencia, Chief Information Officer of the Qtum Foundation.
Quantfury, which has a user base extending to more than 40 countries around the world and offers real-time back-to-back bid and ask prices from key global exchanges, will now let its users expand their investment portfolios into different financial instruments such as stocks, cryptocurrencies, commodities, and ETFs using QTUM. Such financial initiatives will have zero fees and no commissions of any kind.
“Traditionally, you’d have to fund accounts with specific fiat currencies in order to trade stocks and these forms of trading financial assets often come with all sorts of fees, some hidden and at adjusted prices,” the Qtum Foundation said on a blog post. “With this collaboration, users have the option to buy stocks like Tesla (TSLA), Amazon (AMZN), or Apple (AAPL) instantly with dollar funds, using their Qtum tokens as collateral, without having to pay any commission or maker and taker fees.”
The integration will push the retail investment experience into a new realm of possibilities and will bring liquidity as well as market exposure both ways.
“By accepting proven cryptocurrencies and their respective community members, we’re advancing our goal of building the crucial links between the traditional and modern financial worlds,” said Gregory Kim, Quantfury CEO.