Mass Transition from Pure Forex into Forex-Crypto Integrated Exchanges this Year: Raj Chowdhury
Blockchain pioneer and PayBito Chief, Raj Chowdhury, predicts a volume shift in the investment market, with institutions into pure Forex opting for the Forex-crypto integrated variant. A major shift from traditional Forex trading platforms to its crypto-incorporated version will be observed in the coming months, according to Chowdhury.
A Forex-crypto integrated exchange allows Forex to be traded in crypto and vice-versa. The crypto appendage allows investors to pay in crypto for foreign currency. “The incorporation of a crypto exchange empowers institutional Forex brokers by employing an alternative payment platform for people to use,” explained Chowdhury.
“The idea behind the integrated technology is to diversify investment opportunities and also be inclusive.”
Chowdhury-headed PayBito is a global cryptocurrency exchange that employs the said integrated technology. PayBito also provides its technology to institutional crypto organizations and Forex broker firms across the globe. While the white label crypto exchange software has a tumultuous response from the crypto community, worldwide, the Forex-Crypto integrated technology is yet to catch up.
“The growing number of crypto investors have created an uproar in the market demand for white label cryptocurrency exchange solutions,” added Chowdhury.
“We expect a mass transition from pure Forex into the Forex-crypto integrated exchanges this year.”
HashCash Consultants, also founded by Chowdhury, has collaborated with several Forex broker firms, providing the technology behind the integrated exchange. HashCash has also reported the rising demand for this technology earlier this year.
“Financial inclusion, diversification of investments, and democratization of wealth send the pulses across this industry,” winds up Chowdhury, “making progress inevitable in this sector.”
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