As USA’s HashCash Consultants gets ready to launch its brand-new virtual currency CFIX, the company has announced that the crypto will be listed at UAE based cryptocurrency exchange platform Bitrump. CFIX, which is scheduled to be launched on April, 2nd will be also available in major exchanges around the world. This will allow traders and crypto investors across geographies to access the virtual currency and trade with it easily.
Speaking about the new crypto, Raj Chowdhury, CEO of HashCash Consultants commented, “The crypto industry is booming in UAE, with investors and even common traders in the region showing significant interest in digital asset trading. So, while planning the launch of our new crypto CFIX, we felt it necessary to pay special attention to that demography. Bitrump possesses both reliability and credibility in the industry and amongst the traders in the region, which are exactly what we as a company are seeking in an exchange for CFIX listing.”
HashCash is calling CFIX their divergent crypto, owing to its unique design. The virtual currency has the backing of an inverse ETF or exchange-traded fund. CFIX is inversely pegged by the S&P 500 market index. This allows the traders to remain profitable even if the market is bearish.
CFIX is paired with Tether (USDT). Being built on a Blockchain platform, allows the crypto to leverage all the essential values like transparency, immutability and heightened security that comes with the technology. The crypto is highly scalable and enables instant real-time settlements. As per the initial announcement made by HashCash, all information related to the value of the crypto reserves will get published regularly so that the trust relationship with the traders remains unhindered.
Bitrump is the first fully regulated exchange based in UAE. As a multicurrency, high-frequency trading platform for digital assets, it is engaged with the central bank of UAE concerning regulatory compliances. The exchange has a seamless operational architecture that simplifies digital transactions and trading. Bitrump reduces the risk of fraud by holding the crypto in escrow till funds are received and the exchange also ensures bank-level security to traders.