Amatsu Soyonobu decided to start a platform named WCX that will allow people to trade stocks using their Bitcoin. Amatsu is ex-Apple software manager and quantitative financier. He worked side by side with Tagawa Hayashida and founded WCX.
In this trading platform, users can trade stocks and all the profits and stocks are paid in Bitcoin.
The markets that are offered include markets such as Euro/USD, stocks such as Tesla or other precious metals such as gold. At the same time, the platform includes some crypto markets such as BTC/USD or ETH/USD using BTC as collateral.
However, this might not be the best platform for advanced stock traders.
The company is currently offering 0% fees on deposits, withdrawals, and trades since they use Bitcoin as their competitive advantage.
Unlike a traditional platform that would require you to sign up, deposit and wait for the deposit time, funds are available almost instantly through the leverage of Bitcoin.
With Bitcoin, deposits and withdrawals are very fast compared to using USD. Additionally, people from many other countries can participate in the market and invest in stocks. The company focuses on security and usability as well.
The company mentions that:
“Security is our top priority. We use the most tested and secure wallet architecture, which includes cold/hot wallet segregation. We keep 98% of customer funds in cold offline wallets, out of reach from attackers. Hot wallets are used to process withdrawals quickly. They’re protected with state of the art security and insured against theft.”
A question that may come up for the readers is, what about regulations? WCX company is located in Switzerland, it complies with all the Know-Your-Customer (KYC) laws available in the country. That means that users will have to provide their information before they can deposit funds and start trading.
This shows that Bitcoin can have multiple use-cases rather than just a few. It can be used in the financial industry or also to store funds or make international transfers in a fast and cheap way.