GAIN Capital Expands Cryptocurrency CFDs Business, Adds Four New ‎Altcoins

GAIN Capital’s FOREX.com and City Index brands will offer the expanded ‎Crypto CFD suite.

GAIN Capital is pushing further into the rapidly expanding cryptocurrency business through ‎the launch of additional CFDs contracts on four new altcoins, including Ethereum, Litecoin, ‎Ripple and Bitcoin Cash. The introduction of new instruments adds to Gain’s existing ‎cryptocurrency contracts-for-difference (CFDs) offering and follows strong demand from clients ‎since the initial launch in December 2017. ‎

GAIN Capital’s FOREX.com and City Index brands will offer the expanded Crypto CFD suite to its ‎customers in the U.K., Europe, Australia, and Singapore. The clients are now able to trade the ‎cryptocurrency pairs either as an over-the-counter (OTC) derivative or as a future, with ‎access to a limited leverage and the ability to take both long ‎and short positions. ‎

GAIN Capital has established liquidity relationships with multiple digital currencies exchanges ‎and uses these venues to produce tradable rates based on volume-weighted average prices.‎

GAIN has also enhanced its already installed Bitcoin offering. In addition to ‎the buck, the company’s client base will be able to trade the No.1 digital ‎currency against the Euro (BTC/EUR), British pound (BTC/GBP) and ‎Australian dollar (BTC/AUD).‎

Commenting on this, Glenn Stevens, CEO of GAIN Capital said: “The ‎expansion of our cryptocurrency offering provides new opportunities for our ‎clients to trade a variety of digital currencies through an established, ‎regulated firm, without the need for a digital wallet. Aligned with our strategy ‎to invest in organic growth and enhance our product offering, the addition of ‎Ethereum, Litecoin, Ripple, Bitcoin Cash and additional Bitcoin pairs ‎enhances our crypto offering to include the most popular digital currencies ‎and further differentiates our service, where traders can access over 12,000 ‎markets, including FX, indices, commodities, equities and rates.”‎

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