Blackwell Global has announced that Bitcoin will be implemented as a method to fund client accounts. As it stands Blackwell UK will be the first company of the group to implement the digital currency as a funding method for its clients.
Clients of Blackwell Global UK will be able to fund their accounts with Bitcoin, regardless of the country in which they reside, as well as the currency denomination of their accounts.
The company will use its proprietary client portal, Infinitum, to enable the use of Bitcoin in the funding process. Clients will see their balances updated in either USD or EUR, at the Bitcoin exchange rate relative to the chosen currency at the time of the deposit.
Patrick Latchford, CEO of Blackwell Global UK, said: “Bitcoin uses ground-breaking technology that revolutionises the way people use money. The potential for security and global adoption lies in its innovation and improvement over time. We are excited to be a part of the blockchain movement.”
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The decision by Blackwell Global will provide another option for its clients and provide greater flexibility of funding methods.
Blackwell Looking to Expand Operations
Blackwell Global has been gearing up its expansionary efforts over the past year. In the latter half of 2017, the company successfully acquired New Zealand-based liquidity and financial services provider NZF Group Limited (NZF).
Moreover, in an effort to offer service in additional markets, the company opened a subsidiary in Cambodia, following its approval and successful acquisition of a Cambodian SECC derivative broker license.
Last month, Blackwell Global received the approval of the Hong Kong Securities and Futures Commission (SFC), to receive an asset management license. The license permits the company to provide asset management services in Hong Kong.
Along with the addition of Bitcoin as a funding method, it is evident that the company is taking steps to ensure both its geographic and operational expansion.