FXPAY — Decentralized Access To Global Digital Ecosystem

ku10ng (25)in #blockchain • 6 years ago

What is FXPAY ?
FXPay is an exciting and highly prospective business opportunity that brings innovative technology to the Foreign Exchange (Forex) market. fxpay goal is to address the current inefficiencies within the market and to provide cost-saving solutions to brokers, traders, and liquidity providers. By utilizing blockchain technology, FXPay can intelligently reduce the risk for brokers and traders by providing more opportunities and increase the speed of transactions in the Forex market.

FXPay aims to create a large, international, eco-friendly community on a digital platform that is made to meet the demands of Forex liquidity providers and traders. The primary focus will be premium investors who require a new transaction method which is made cheaper and faster through the use of blockchain technology. FXPay acts as a payment gateway system for the Forex industry, the world’s largest financial market. A Payment Gateway performs a variety of tasks to facilitate payments between acquiring banks and issuing banks. It determines whether transactions are approved or declined by verifying transaction information and also provides a secure pathway to exchange information between all relevant parties.

FXPay is an imaginative and very appealing business opportunity, with the point of bringing inventive innovation into foreign trade exchange market. FXPay aim is to fundamentally decrease all hazard related with executing forex trades. It is also a means to lessen the challenges of executing on outside trade advertise by means of the presentation of the FXP tokens — this is an Ethereum token in view of the ERC20 standard.

Why FXPAY ?

FXPAY aims it to change the forex market. Utilizing blockchain innovation, it tends to tackle on behave of every one, the difficulties and wasteful aspects existing in the current forex market. The average exchange time of FXPAY Is generally shorter than the current framework in the forex market. Besides, the exchange fees on the FXPAY ecosystem is low and it lies between 0.5 % — 1% not at all like the existing platform in the forex market that request up to 7%. Having provide a more reduced fees to brokers, nothing is stopping the forex brokers to eagerly come onboard the FXPAY platform.

FXPay Mission
FXPay Inc. aims to create a large, international, eco-friendly community on a digital platform that is made to meet the demands of Forex liquidity providers and traders.

The primary focus will be premium brokers who require a new transaction method which is made cheaper and faster through the use of blockchain technology.

FXPay Inc. aims to expand on this becoming their own premium broker.

This will allow clients to freely invest in the Forex market with their token.

This will provide a platform with both established users and significant daily volumes, which will steadily increase the price over time.

FXPay Features
FXPay has formed a partnership with prominent brokers who act as facilitators and providers of Forex. Through this partnership, cash back bonuses can be redeemed for Forex credit. This credit can then be used in the market.

Solution Brought To Cryptocurrency World by FXPAY
Introducing blockchain technology to the Forex market, FXPay is able to address inefficiencies in the market that, until now, have not had a solution. By offering a digital currency to brokers and traders, FXPay provides a medium through which to effortlessly convert fiat currency into FXP tokens. Once it is securely logged on the blockchain, it can be converted into any of Fxpay Forex pairs. Traders can then use Forex credit to participate in the market. Once trading has ceased, traders can trade Forex credit back into FXP or any other digital currency. Alternatively, traders can choose to keep Forex credit, which can either be used to continue trading at a later stage, or withdrawn into fiat currency through the Forex trading platform, at minimal cost.

Advantages and disadvantages
Forex became one of the first decentralized markets. Exchange transactions with national currencies do not occur through any one centralized exchange, but between traders. The market itself includes four main players:

The main banks through which operations on the exchange of national currencies take place;
Liquidity providers, which are interbank institutions;
Traders are personal participants of the forex market, who directly exchange currencies;
Brokers are smaller banks that mediate between traders and liquidity providers, making transactions on behalf of traders.

Despite the fact that the forex market has given many investors the opportunity to make really effective and profitable investments, today its participants still face a number of problems and barriers. The first of them is a rather widespread problem of overstated commissions, in connection with which traders, brokers and liquidity providers have thresholds for entry and exit from the market, that is, for investment and withdrawal of funds.

Traditionally, commissions reach 5–7% per transaction. Many investors lose a significant part of their investments and potential profits, but for others such thresholds become completely insurmountable. The problem is that the forex market tangibly lacks the general standardization and coordination between brokers and traders.

Team

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ICO Details

Conclude
FXPay believes They can intelligently mitigate risk and increase the speed of transactions in the Forex market through the utilization of its FXP token, an ERC20 token based on Ethereum blockchain technology.