Dash, the privacy-focused cryptocurrency, has been integrated as a base currency on Whaleclub’s trading platform. With the integration now complete, Whaleclub users can trade Dash against more than 50 different assets, with leverage up to 200x.
VP of Dash Business Development Daniel 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.”
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Whaleclub, based in Hong Kong, has facilitated over $1.5 billion in trades since its inception last year, and processes about $10 million in volume every 24 hours, according to its published statistics. The signup process to Whaleclub is anonymous with just an email address required. Already, 20,000 customers are active on the platform and the company also reports strong growth in the Asian markets.
Chief Product Officer at Whaleclub Ian Glindro said, “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. We expect strong demand as the Dash ecosystem continues to grow globally and investors look for a capable and ambitious Bitcoin alternative.
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.”