TP Global Limited, a Mauritius regulated award-winning, new-age Foreign Exchange (FX) brokerage firm, announced on Friday that it has selected Belfrics International to enable it to offer crypto derivatives and blockchain solutions to its customers.
Belfrics International is a global blockchain technology firm that runs cryptocurrency exchanges on its proprietary platform.
TP Global signed a partnership MOU with Belfrics International to facilitate the deal. Based on the collaboration, TP Global will offer crypto futures and options trading to enable investors to trade volatility directly and protect against downside risks.
The launch coincides with the ongoing highly volatile period in the crypto market triggered by the dramatic fall of Terra’s LUNA stablecoin and the collapse of recent crypto lending platforms including Celsius Networks, Voyager Digital, among others.
Nitish Sharma, Global CEO, TP Global FX, talked about the development: “With the growing demands of the Crypto derivatives industry, our users needed our services more than ever. After carefully evaluating our options, we decided to partner with Belfrics offered the best solution. We believe trading in Crypto Derivatives will see massive growth as cryptocurrencies gain popularity all over the world. We had planned to enter the ecosystem of cryptocurrencies and have found an able partner in Belfrics who will not only support us in crypto liquidity, but also with blockchain solutions to expand our services to new domains.”
Established in 2014, TP Global FX Limited is a major online FX trading broker that has footprints in the Middle East and African region and recently entered the South American and South East Asian markets. TP Global FX has offices in Europe, Africa, Mauritius, Nigeria, Armenia, Vanuatu, and Dubai.
Praveen Kumar, Belfrics CEO and Founder, also commented: “We are proud to partner with FX broker TP Global on Belfrics’ crypto derivatives and blockchain solutions. This strategic partnership is in line with our strategy of increasing our B2B services, and it will support our goal of adding traders and investors to the Belfrics Exchange. We have great expectations for our collaboration in strengthening and promoting our ability to provide global trading in digital assets, cryptocurrencies, and crypto derivative contracts, as well as our KYC compliant blockchain solutions.”
Belfrics operates its cryptocurrency exchanges on its proprietary trading platform on its global KYC blockchain, which is licensed and regulated by the Labuan Financial Services Authority (LFSA) in Malaysia.
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