(MENAFN- TimesNewswire ) With the continuous development of technology and the expansion of global trade, foreign exchange trading has become an important component of international trade. However, traditional foreign exchange trading has many problems, such as information asymmetry during the trading process, excessive verification and settlement cycles, and so on. The emergence of blockchain technology provides a new solution to these problems.
Blockchain technology, as a new decentralized management technology, can ensure the security and transparency of transaction information, while simplifying the transaction process and reducing transaction costs. Therefore, it has been widely used in digital currency transactions. However, the application of blockchain technology is not limited to digital currency transactions, but can also be extended to traditional foreign exchange transactions.
Swissquote Bank is a Swiss online financial and trading service provider, founded in 1996 and listed on the Swiss Stock Exchange in 2000. It provides online trading of London gold, foreign exchange, CFD contracts for differences, global stock indices, and a wider range of services.
Swissquote Bank is a legitimate commercial bank regulated by Switzerland, with excellent reliability and transparency. It is one of the top ten foreign exchange brokers in the world, providing professional services to over 600000 individual and institutional clients worldwide.
The mission of Swissquote Bank is to: Create more popular financial and trade services, providing you with unlimited possibilities. Therefore, Swissquote Bank closely follows the technological progress of the times and utilizes blockchain technology to create a high-end platform based on blockchain technology. Swissquote officially announced in August 2023 that its global leading technology platform, EYMEX, was officially launched. This innovative cross generational trading platform brings change to the trading field and provides users with unparalleled products and services.
Swissquote Bank has always been committed to providing cutting-edge financial solutions and services to meet the constantly changing needs of customers. The launch of the EYMEX platform this time is a further reflection of Swissquote Bank's spirit of technology and innovation.
There are many problems in traditional foreign exchange trading, the most prominent of which are information asymmetry and long settlement cycles. In traditional foreign exchange trading, it is often difficult for both parties to fully trust the other party's trading information, resulting in information asymmetry. In addition, during the transaction process, multiple intermediary institutions such as banks and third-party payment service providers are involved, which leads to a long settlement cycle of the transaction and the need for mutual trust between the two parties in the intermediary links of these institutions.
Swissquote knows the pain points of foreign exchange trading, and in order to solve the problems existing in traditional foreign exchange trading, new blockchain technology has emerged. The characteristics of blockchain technology are decentralization, security, transparency, and tamper resistance, which can provide better solutions for foreign exchange transactions. Introducing blockchain technology and utilizing the Eymex platform can perfectly solve the historical challenges of information asymmetry, shortening transaction settlement cycles, and ensuring transaction security and transparency that have plagued foreign exchange trading.
At the same time, the EYMEX platform also launched the platform token RNDH, which is the most important ecological token that connects the ecosystem. As a direct platform token of Swissquote Bank, RNDH has received support from many blockchain practitioners since its issuance. This year, RNDH will collaborate with top blockchain platforms, and a new ecosystem based on RNDH tokens is being built. It is expected that the value of RNDH will skyrocket. At present, RNDH can only rely on mining machines and mainstream digital asset pledge mining for output. Due to output limitations, a large proportion of RNDH tokens will be owned by early stage investors. With the operation of the platform, the ecological demand for RNDH quantity will increase exponentially, and RNDH tokens will be very scarce at that time.
The emergence of blockchain technology has brought new opportunities and challenges to traditional foreign exchange trading. Compared with traditional foreign exchange trading methods in the past, blockchain technology has significant advantages in transparency, decentralization, and tamper resistance. It can provide better solutions for foreign exchange trading, and the platform will further consolidate its position as a top trading platform.
Swissquote stated that it will continue to increase investment in the research and development of the EYMEX platform, continuously optimize functions and performance, and ensure that users can always enjoy the industry-leading trading experience. At the same time, Swissquote Exchange will continue to expand its global business network and service scope, providing users with more diversified financial products and services.
Overall, the launch of the EYMEX platform on the Swissquote Exchange is a major breakthrough in the field of financial technology. It reshaped the pattern of the trading industry with its advanced technological strength and innovative thinking mode. People look forward to the Swissquote Exchange continuing to bring more innovation and change in the future, providing global users with a more outstanding trading experience, and creating a wave of wealth in the era.