Offshore multi-asset broker Larson&Holz IT Ltd has announced a strategic partnership with Genesis Vision, a decentralized trust management platform built on blockchain technology and smart contracts.
The deal aims to enhance Larson&Holz’s offering, which was recently developed to create a crypto version of a retail forex broker. Under the broker’s new and separate division, LH Crypto, the company plans to transfer the existing business model into the crypto environment, where all ongoing operations with traders’ accounts will be processed in cryptocurrencies only.
Larson&Holz IT Ltd is registered in Saint Vincent and the Grenadines and offers access to various OTC markets, including forex, CFDs and binary options. The broker claims that it doesn’t need to acquire any licenses since it facilitates transactions and keeps funds in a blockchain–based environment only.
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Genesis Vision has developed a platform for a private trust management market based on blockchain and smart contracts which serves as an ecosystem for traders, investors and brokers.
The startup reflects an unconventional trust management system, which unites exchanges, brokers, traders, and investors into a decentralized network, making the financial market even more global and interconnected.
Genesis Vision constitutes the first platform to make a foray into the private trust management market, harnessing blockchain technology and smart contracts. The platform itself emphasizes a more globalized outlook, whereby successful traders can broadcast their trading strategies by attracting investments from around the world.
Earlier in September, Genesis Vision became the first initial coin offering to successfully receive certification from the Financial Commission.