Forex is an international financial market where currency exchange is performed. It was founded in 1976, when all countries of the world abandoned the gold standard and moved to the Jamaican system, where the exchange rates are set not by the state, but by the market. Forex became simply necessary for the normal functioning of the world economy and for the exchange of capital between different countries.
Block is the technology of the distributed information registry. The technology has become widely known after application in crypto-currencies. The main advantages: transparency of operations, cost reduction, decentralization, speed, reliability, durability and others.
FXPay is a platform that brings innovative technologies to the foreign exchange market (Forex). FXPay believes that we can reasonably reduce the risk and increase the speed of transactions in the Forex market by using its FXP token, the ERC20 token based on Blockchain Ethereum technology.
In a new forex broker from one of the largest European banking groups, the relationship between customers, the company itself, liquidity providers will be built on smart contracts written on the Ethereum platform. Customers will be able to track all transactions (cash, trade, etc.) online. The etherium platform is the most popular platform for writing smart contracts around the world. As stated, the smart contract code will be open and posted on the githaba - everyone will be able to look and check.
Forex industry is just beginning to master this technology, so a new forex broker for brokerage is the first of its kind.
FXPay can solve the problem of inefficiency in the market, which until now had no solution. By offering a digital currency to brokers and traders, FXPay provides an average fee that easily converts the fiat currency into FXP tokens. Once it is safely registered on a block chain, it can be converted into any of our Forex pairs.
Traders can then use the Forex loan to participate in the market. Once the trade has stopped, the trader scans the Forex trading currency back to FXP or any other digital currency.
The purpose of the FXpay team is to create a large, international community on a digital platform that is created to meet the needs of Forex brokers and traders.
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