First Global Credit Launches Bitcoin Collateral Stock Market Trading Service
First Global Credit yesterday launched an investment service that bridges the gap between cryptocurrencies and global stock markets.
The company’s website will permit users that have mined, purchased or received Bitcoins to use them as security on investments in a selection of more than 100 world-wide stocks as well as a dozen global stock markets, according to First Global Credit management.
First Global Credit indicates that this is the first of five major service launches planned for 2014-2015.
“The mainstream investment community discriminates against holders of digital currencies because of fear and a lack of knowledge,” says Gavin Smith CEO of First Global Credit. “Because we provide a way for clients to invest in world-wide stock markets without the need to first exchange Bitcoins for Fiat currencies, we are helping to establish a capital market which will have a stabilizing effect on the digital currencies themselves,” continues Smith.
“We follow a Direct Market Access hedging strategy where no client’s trade is filled until a hedge has been automatically placed in the underlying market,” says Smith. This is one of many strategies that makes it possible for First Global Credit to prosper regardless of volatility. “The trade management strategies we use have proven extremely profitable even in illiquid or volatile markets and we are going to replicate that success in the alt currency markets.”
First Global Credit is registered in Charlestown, Nevis. Technical operations are run from offices in the UK, with trading and risk controlled in Geneva, Switzerland.