(MENAFN- Evertise Digital)
Mar 10, 2022
Dusk Network (DUSK) is partnering with eToro to gain a foothold in the social investment community. The opportunity grants Dusk users access to products offered by eToro such as stocks, ETFs, indices, commodities, and currencies.
eToro is a multi-asset trading platform giving its users access to more than 2,000 financial assets hence, this will be a huge plus to expanding the Dusk Network ecosystem. The Israeli-based company has an innovative CopyTrader system that allows beginners to replicate the actions of successful traders. This system will be important to Dusk as it allows participation of crypto novices to interact not only with traditional financial assets but as well as digital currencies.
The news about this partnership comes at a time when financial exchange platforms such as the CME Group are diving into the crypto space through the issuance of digital currency futures. Such a move seeks to provide traders all over the world with an avenue of pursuing regulated and established investments by speculating or hedging against their assets.
Competition is rife in the crypto world with traditional exchanges being eclipsed by crypto-based exchanges. In the month of October last year, more than $886 billion was traded on bitcoin futures on Binance derivative trading platform alone against CME Group registered trades worth only $7.3 billion.
Other notable trading platforms tapping into the traditional financial assets include FTX US which acquired LedgerX, and Binance with the latter giving its customers access to digital asset futures and options.
Investors worldwide are demanding investment opportunities in derivative products as an avenue of gaining exposure away from the traditional spot markets. Spot market offers trading of financial assets such as currencies, commodities, and stocks in exchange for cash. Conversely, a futures contract relates to the delivery of an underlying asset at a future date.
April last year Dusk Network raised $18 million in round funding attaining the unicorn status and among notable investors include Mark Cuban and iFinex Capital. The company is committed to creating a transparent yet decentralized financial system to allow users to trade on any market, anytime and anywhere.
This partnership deal with eToro is expected to finalize at the start of quarter two where all financial terms will be disclosed to the public.
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