Kantox Hits Over $2 Billion in Currency Exchange Transactions
- After taking three and a half years to hit $1 billion in transactions, Kantox clears the next billion dollars in about eight months.
With 1600 clients in over 20 geographic locations, Kantox has announced that they have reached over $2 billion in total transactions on the platform. A provider of low cost cross-border currency Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading. An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading. Read this Term, the $2 billion milestone was reached eight months after it had taken Kantox three and a half years to hit $1 billion in currency transactions. According to Kantox CEO and Co-Founder Philippe Gelis, hitting $2 billion was achieved quicker than the firm had initially expected.
According to Kantox, as its platform has matured, and alternatives to bank based currency transfers have become better known, it has been increasingly able to gain business from larger businesses. Having initially been focused on small and medium sized enterprises (SME), Kantox revealed that many new customers are from businesses with over £100 million in yearly revenue. According to Kantox, its average transaction size now stands at £100,000, with a single largest transfer of $33.67 million in May.
Commenting on the growth and their plans for the future, Toni Rami, Kantox Co-Founder and COO, stated that their near term goals are: “One, investing in the Kantox platform’s technological development, and two, entering new markets”.
Explaining the growth, Gelis stated that “It took us three and a half years to achieve the first billion; an amount we’ve now doubled three months quicker than we had initially anticipated. This is thanks to an FX model that we are promoting at Kantox, which more and more companies are identifying with".
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With 1600 clients in over 20 geographic locations, Kantox has announced that they have reached over $2 billion in total transactions on the platform. A provider of low cost cross-border currency Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading. An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading. Read this Term, the $2 billion milestone was reached eight months after it had taken Kantox three and a half years to hit $1 billion in currency transactions. According to Kantox CEO and Co-Founder Philippe Gelis, hitting $2 billion was achieved quicker than the firm had initially expected.
According to Kantox, as its platform has matured, and alternatives to bank based currency transfers have become better known, it has been increasingly able to gain business from larger businesses. Having initially been focused on small and medium sized enterprises (SME), Kantox revealed that many new customers are from businesses with over £100 million in yearly revenue. According to Kantox, its average transaction size now stands at £100,000, with a single largest transfer of $33.67 million in May.
Commenting on the growth and their plans for the future, Toni Rami, Kantox Co-Founder and COO, stated that their near term goals are: “One, investing in the Kantox platform’s technological development, and two, entering new markets”.
Explaining the growth, Gelis stated that “It took us three and a half years to achieve the first billion; an amount we’ve now doubled three months quicker than we had initially anticipated. This is thanks to an FX model that we are promoting at Kantox, which more and more companies are identifying with".