Fifth most valuable cryptocurrency dash announced in press releases that the digital currency is open for trading on the San Francisco-based Kraken Digital Asset Exchange. Among the oldest bitcoin exchanges Kraken has a large selection of digital assets and national currencies. Dash has also been integrated as a base currency on Hong Kong-based unique trading platform Whaleclub.
The dash-Kraken partnership enables trading on the exchange with buy and sell pairings of DASH / EUR, DASH / USD and DASH / BTC.
The dash-Whaleclub association means users of the digital currency can trade against over 50 different assets; including Bonds, Oil, Stocks, Gold and Forex instantly and seamlessly; withdraw earnings as they arise, let their investment grow, or simply add more dash to trade larger amounts, with leverage trading up to 200x also being available. Whaleclub has facilitated over $1.5 billion in trades since its inception last year, and processes approximately $10 million in volume every 24 hours.
Daniel Diaz, dash VP of business development, commented on the partnership with Kraken, “Kraken is excited to offer Dash on their trading platform and our teams are working closely to ensure clients can begin trading the currency immediately. Kraken is an incredibly well established and well-structured organization, and amongst the best in the exchange business. In terms of reputation, they represent the highest standard for client satisfaction. Dash is a project that has implemented very original ideas that resonate well with the market, and as a top tier exchange, Kraken’s mission is to provide clients with access to digital currencies that are in demand and provide value.
Following several business partnerships around the world, the implementation of the Sentinel software upgrade and the announcement of revolutionary decentralized payments system called Evolution, Dash has been on record breaking trajectory. Its total market cap skyrocketed from $78 million USD (January 1st) to an all-time high of $835 million USD (March 18th), with new international markets unlocked alongside user demand.”
Diaz continued, “As the leading exchange in the Euro market, Kraken’s global reach helps Dash successfully meet the needs of our users and investors. The entire integration experience was very positive and we have high expectations for the partnership going forward. This is a significant achievement for Dash because our ecosystem needs high quality and trustworthy exchanges like Kraken to thrive, and we know they will play an important role as a fiat gateway.”
According to the press release that we received about dash-Kraken partnership, Kraken is also expected to offer dash margin trading in the near future.
Whaleclub chief product officer Ian Glindro remarked about the association, “We were impressed with Dash’s payment network growth, innovation, and DAO structure, so when the Dash team approached us about a potential partnership and Whaleclub integration, we were very excited to get that built. Dash users can now sign up to Whaleclub with just an email (no ID verification) from anywhere in the world, deposit Dash, and start trading within minutes. We expect strong demand as the Dash ecosystem continues to grow globally and investors look for a capable and ambitious Bitcoin alternative.”
Diaz said, “Whaleclub is a one-of-a-kind service. It offers access to trade traditional financial markets using Dash, opening up a completely new universe of options for our users and another great use case for Dash’s worldwide versatility. Not only will this allow current Dash investors to trade traditional markets like, stocks, metals, forex and bonds, it may also attract new investors that want to trade traditional markets but maybe find regulatory hurdles and minimum trading requirements on those markets too big of a challenge to overcome.”
Whaleclub matches trades internally at no cost to traders. There are no execution fees, orders are filled in one click rather than tranches (no slippage), and stop and take-profit orders execute at the prices set, cutting down on risk and trading expenses as compared to a conventional order book exchange.
Whaleclub also accepts bitcoin as a base currency to cater to a broader range of users. Already, 20,000 customers are active on the platform and growth in the Asian market is strong.
Glindro stated, “We operate an internal matching model powered by digital currency only. We’re not bogged down by liquidity issues or antiquated fiat processes, and this gives us a lot of room to innovate. We are seeing fast adoption in Asia because demand for digital currency is on the rise, particularly in Japan, Korea and China. Dash has shown healthy signs of growth and is starting to command mindshare in Asia. Further internationalization efforts by the Dash team will likely accelerate that growth because exchange and trading services will serve as a beachhead for Dash in the Asian market.”
Whaleclub intends to launch over 75 new markets by the end of this year, encompassing digital currencies, commodities, stocks and Forex.
Dash logo – Courtesy of dash via PR firm Wachsman PR
Kraken logo – Courtesy of Kraken
Whaleclub logo – Via press kit on their website’s Press page