Qtum, a blockchain application platform announced on 11 April about using its cryptocurrency QTUM for investing on Quantfury, a trading app available for customers outside the US and Canada.
Qtum commenced by informing that QTUM could be used to purchase stocks, cryptocurrencies, commodities, exchange-traded funds (ETFs) or other financial instruments. Qtum emphasized that the traditional way of trading involving fiat currencies was riddled with hidden costs. With the new handout, users have the option to buy stocks like Tesla (TSLA), Amazon (AMZN) or Apple (AAPL) using their Qtum tokens, without having to pay any fees.
Miguel Palencia, Chief Information Officer of the Qtum Foundation cited –
“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.”
Qtum expressed that through this embrace with Quantfury, users would be benefited from a broader outreach to the world’s stocks. The platform noted that Qtum’s Asian users were earlier not benefited from the stability of western markets. However, with the new set of tools, retail investment experience would be scaled to the next level thereby overcoming unwanted friction.
Qtum conveyed insight into the workings of Quantfury. Quantfury offers real-time comprehensive trading prices aggregated from key global exchanges, such as NASDAQ and Bitfinex. Quantfury does not levy any fee or commissions of any kind. Quantfury relies on intelligent investments to make money, leveraging machine learning on user trading data.
Qtum sustained by adding that Quantfury offers the customers transparency and an easy-to-use platform. Customers can avail access to global markets without having to sell their cryptocurrencies. Quantfury app extends support to six different digital coins which include Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Dai (DAI), and Tether (USDT).
Last month, Qtum blogged about adding its cryptocurrency Qtum to Zeux app. The official launch was restricted to the UK and a soft launch in the rest of the European Union (EU). Qtum stated that customers in the US would have to wait a bit longer.
Quantfury users could now deposit a maximum of 1,000 U.S. dollars in Qtum and trade in over 700 financial assets. Quantfury already has a user base in over forty countries and hoped the collaboration would help spread the services. This would specifically be applicable to economies which have not benefited from the west. Qtum concluded by stating its commitment to overcoming barriers that prevent blockchain adoption globally.