Crypto exchange WandX and Blockchain Worx develop tradable 'token baskets'

22 Aug, 2018
by Richard Allen
Crypto exchange WandX and Blockchain Worx develop tradable 'token baskets'

Singapore-based cryptocurrency exchange WandX announced a partnership with Fintech-RegTech advisory project Blockchain Worx to develop a new kind of token product. The teams are developing pick-and-trade ‘token baskets’, CryptoNinjas reports.

Launched in May this year, the ‘Basket Protocol’ enables the creation of a mixed bag of tokens using Ethereum smart contracts. The approach offers individuals and institutional investors an opportunity for a cost-effective, diverse and risk-smart crypto portfolio.

The basket protocol also incorporates “emerging digital assets on blockchain technology with best practices from traditional financial instruments to create ready-to-invest crypto token portfolios on self-executing smart contracts.”

CEO of WandX, Abhinav Ramesh said, “We are glad to partner with Blockchain Worx to create one of the first baskets which enable crypto users to buy into Crypto Exchange Tokens and Decentralized Exchange Tokens easily, hence making it easy for new users to participate the crypto market.”

“Interest in digital assets is rapidly growing. Individual and institutional investors are looking for ways to participate in the token economy. The token basket offers everyday folks as well as investment managers, a simple and structured approach to start building a portfolio of crypto tokens,” Floyd D’Costa, co-founder and CEO of Blockchain Worx said.

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