Multi-asset trading expert Saxo Markets is about to expand its offering via the launch of crypto FX paired with bitcoin, litecoin and more.
The company is advertising the upcoming launch of the service to clients in several of the regions where it is active, such as Australia and Singapore. It is apparent that due to regulations in certain regions, the service will not be available everywhere where Saxo is present.
Earlier this month, Saxo said it was launching a new theme basket focusing on crypto and blockchain companies. This basket provides inspiration and alternatives for investors that want exposure to cryptocurrencies but do not want to own ETNs or physical cryptocurrencies.
Saxo explains that, with the listing of Coinbase the size a matureness of the crypto industry has finally reached a level where Saxo can introduce a crypto and blockchain theme basket. The basket is Saxo Bank’s smallest to date consisting of only 18 companies across segments such as trading exchange, crypto services, crypto mining, investment holdings, blockchain applications, and crypto mining equipment.
The three main risk sources for this basket are new regulation which could severely impact further adoption of cryptocurrencies, valuations across crypto related companies are quite aggressive which makes these stocks more sensitive to changes in sentiment, and finally the Bitcoin price itself is a key risk.