Teletrade Partners with Blockchain-Based Escrow Provider Serenity

The number of Serenity's project participants continues to grow.

CySEC-regulated FX broker TeleTrade has partnered with blockchain-based escrow service provider Serenity, which taps the emerging technology to manage the relationships between traders and brokers‎.

Serenity’s platform aims to secure the safety of trading through blockchain-based capabilities that enable trade participants to check the validity of transactions and whether clients’ trades were reasonably priced and executed.

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The startup has recently managed to raise as much as $4 million in a single round of funding through an initial coin offering (ICO) for its SRNT token.

Serenity’s system also offers an independent arbitration platform. Thanks to ‎the blockchain technology, all trade operations ‎can be recorded, which ‎allows traders to check the accuracy of trade executions by brokers. The ‎brokers, on the other hand, will be able to demonstrate the speed and ‎accuracy of their service to traders at all times‎.

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Earlier in April, Serenity joined hands with Atirox and Make Capital Group to expand its business reach worldwide.

Commenting on the news, Serenity’s founder Stanislav Vaneev said: “The ‎partnership with the global FX company TeleTrade will give us a great ‎opportunity to adapt our solutions in local markets around the world. Without ‎any doubt, the partnership with TeleTrade Group of Companies will help ‎Serenity grow in numbers and achieve its goals in the nearer future.”

Stanovoy also added that “Brokers that join Serenity demonstrate the will to ‎be transparent and open to traders and the financial industry as well.”‎

In an exclusive interview last month, Vaneev told Finance Magnates: “Serenity will protect participants with a smart contract which will ensure trading and other activities are conducted according to the market rules and practices and at fair prices so that nobody is hurt or cheated.”

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