Singapore, July 28, 2020 (GLOBE NEWSWIRE) — (via Blockchain Wire) Bityard, a world-leading digital asset exchange platform has announced its expansion into the North American market through its partnership with Global Digital Assets (GDA Capital), a financial institution that operates globally from its headquarters in Toronto and New York City. Bityard provides retail and institutional traders with digital asset exposure through derivative contracts, rather than trading the financial assets outright. This model of focusing on derivatives products provides Bityard with lower latency, deeper order books, and lower price slippage on larger trades and orders.
The traditional derivatives market is enormous, with analysts often predicting the market capitalization at one quadrillion dollars or roughly 10 times the gross domestic product (GDP) of the entire world. Derivatives are a form of financial contract that act as trading instruments where investors can trade or speculate on the price movement of an asset by purchasing a contract that reflects this asset’s price, rather than owning the asset itself. These assets in question can be commodities (e.g., rice, wheat, crude oil) or a financial instrument (e.g., stocks, bonds, cryptocurrencies). Derivative contracts are typically used by traders as a way to hedge other investments or to lock in profits when trading in volatile markets and are also often used for treasury management purposes for large multinational enterprises.
“Global liquidity is essential to the continued adoption of blockchain technology. We are thrilled to be working with Bityard as their derivatives exchange creates yet another reliable on-ramp for sophisticated investors and speculators”, said GDA Capital’s head of strategy, Karl Samsen
“Bityard’s product philosophy has always been to offer clients a sophisticated trading platform that is packaged into a seamless user experience. We are excited to bring Bityard to the North American market and to continue driving blockchain adoption at the consumer-level” said BitYard’s head of business development, Rafael Zhou.
The Bityard team is globally headquartered in Taiwan and Singapore, with additional offices in Vietnam, Malaysia, and the Philippines, and a distributed team in the United States, China, Taiwan, Indonesia, Vietnam, and South Korea. Currently, Bityard is open for trading in more than 150 countries.
About GDA Capital
Global Digital Assets (GDA Capital) is a global merchant bank focused on emerging technology, based in Toronto & New York City. GDA was founded through the joint venture between MLG Blockchain and Secure Digital Markets and offers a full suite of services including ventures, capital markets and liquidity. We have worked with a variety of firms ranging from family offices, HNWI, Fortune 100 enterprises, startups and global governments looking to accelerate their country’s adoption of blockchain. For more information please visit:
GDA Capital Group
Bityard is the world’s leading cryptocurrency contracts exchange. Headquartered in Singapore, we provide safe, easy, and fast crypto asset trading services in more than 150 countries. Bityard adheres to the product concept of “Complex Contracts Simple Trade”, and aims to bring the ultimate simplified trading experience to customers. For more information, please visit https://bityard.com/
Disclaimer: This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest. Tokens and virtual currencies, in general, are not legal tender, in any country, and are not backed by any government as legal tender, nor should they be treated as such.