Altcoin Dash has been integrated as a base currency on the Whaleclub trading platform. The partnership means Dash users can trade against Oil, Gold, Stocks, Forex and Bonds. Based in Hong Kong, Whaleclub has facilitated over $1.5 billion US in trades since its inception last year, and processes approximately $10 million US in volume every 24 hours.
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. Whaleclub is like a futures exchange where people can speculate on the performance of traditional markets and look for short term or long term margins. It’s a very original product that will most certainly draw more Dash users, and we are excited to build a long term partnership with the professional and transparent team at Whaleclub.”
With the integration, Dash users can sign up to Whaleclub and trade against more than 50 different assets, withdraw earnings as they arise, let their investment grow, or simply add more Dash to trade larger amounts. Leverage trading up to 200x is also available.
Ian Glindro, Chief Product Officer at Whaleclub, remarked: “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. Dash users can now sign up to Whaleclub with just an email (no ID verification) from anywhere in the world, deposit Dash, and start trading within minutes. 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.”
Whaleclub matches trades internally at no cost to traders, with no executions fees. Orders are filled with 1 click instead of tranches, and stop and take-profit orders execute at the prices set, reducing risk and trading costs as compared to a traditional order book exchange. Whaleclub also accepts Bitcoin as a base currency to cater to a wider array of users. Already, 20,000 customers are active on the platform and growth in the Asian market is reportedly strong. Whaleclub plans to release over 75 new markets by the end of 2017, spanning cryptocurrencies, Forex, stocks and commodities.