m-FINANCE, one of the most popular technology providers for the forex, contracts for difference (CFDs) and bullion markets, has exclusively revealed to Finance Magnates that it has joined forces with Backpack, a provider of an all-in-one trading platform and back-office
Together, the strategic alliance, which will also utilize TradeSmarter’s web trading platform – Wow Trading Platform – will see the launch of a combined platform named mFinTrader. This will allow m-FINANCE to enhance its cryptocurrency and CFDs offering.
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The white label platform is a turnkey solution that will aid organizations that are looking to start a cryptocurrency exchange or brokerage. This is because the platform will allow brokerages or financial institutions to add CFDs from different markets to their own operations.
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This will be achieved with the help of the Wow Trading Platform, a web and mobile-based trading platform that allows brokerages and financial institutions to move into the trading market by integrating its technology. Through the partnership, the company will create a branded WebTrader which can be accessed through the mFinTrader platform.
Brokerages will be able to add the CFD instruments to their operations through the use of widgets, which allow for easy integration. m-FINANCE will act as the face of this service and will, therefore, provide the first line of customer service and support for the branded WebTrader.
Commenting on the partnership, Yoni Avital, the CEO of Backpack said: “we see a strong demand for our marginal CFD cryptocurrency trading platform in the Asian markets both from existing brokers and newly crypto exchanges, our platform could be integrate in seconds both as a single sign on or as embedded script in any web-page or mobile browser. m-FINANCE’s dominance in these markets can deliver very successful complete technology solution and support.”
Speaking on the strategic alliance, Stephen Lam, Managing Director of m-FINANCE added: “we are excited about the launching of mFinTrader which combines the strength of m-FINANCE and Backpack in trading technology and crypto spaces. Our solution demonstrates how brokers can get into crypto market with minimal time and investment.”