More news today for Dash as it was just announced the asset has been integrated as a base currency on cryptocurrency CFD trading platform Whaleclub. Previously, bitcoin was the sole crypto available as a base. The partnership means Dash users can trade oil, gold, stocks, forex, and bonds unlocking a new way to make potential gains on the rise and fall of traditional markets utilizing Dash.
Whaleclub, based in Hong Kong, has facilitated over $1.5 billion USD in trades since its inception last year and processes about $10 million USD in volume every 24 hours.
Whaleclub also released version 6.0 of its platform today with updates featuring a redesigned UI, ability to close all active or cancel all pending trades with one click, redesigned trade panel with recommended position size, access to most recently viewed markets, sort positions by market, size, entry price, entry date, close price, return, and return %, quicker access to settings, deposits, and withdrawals, financing now levied on demo positions, just like it is on real money positions, and the ability to now mute and un-mute users in chat.
VP of Dash Business Development Daniel Diaz said:
“Whaleclub is a one-of-a-kind service. It offers access to trading traditional financial markets using Dash, opening up a completely new universe of options for our users and another great use case for Dash’s worldwide versatility. Not only will this allow current Dash investors to trade traditional markets like, stocks, metals, forex and bonds, it may also attract new investors that want to trade traditional markets but maybe find regulatory hurdles and minimum trading requirements on those markets too big of a challenge to overcome.”
“Whaleclub is like a futures exchange where people can speculate on the performance of traditional markets and look for short term or long term margins. It’s a very original product that will most certainly draw more Dash users, and we are excited to build a long-term partnership with the professional and transparent team at Whaleclub.”
With the integration now complete, Dash users can sign up to Whaleclub and trade against more than 50 different assets, withdraw earnings as they arise, let their investment grow, or simply add more Dash to trade larger amounts. Leveraged trading up to 200x is also available.
Chief Product Officer at Whaleclub Ian Glindro said:
“We were impressed with Dash’s payment network growth, innovation, and DAO structure, so when the Dash team approached us about a potential partnership and Whaleclub integration, we were very excited to get that built. Dash users can now sign up to Whaleclub with just an email (no ID verification) from anywhere in the world, deposit Dash, and start trading within minutes. We expect strong demand as the Dash ecosystem continues to grow globally and investors look for a capable and ambitious Bitcoin alternative.”
“We operate an internal matching model powered by digital currency only. We’re not bogged down by liquidity issues or antiquated fiat processes, and this gives us a lot of room to innovate. We are seeing fast adoption in Asia because demand for digital currency is on the rise, particularly in Japan, Korea, and China.”
“Dash has shown healthy signs of growth and is starting to command mindshare in Asia. Further internationalization efforts by the Dash team will likely accelerate that growth because exchange and trading services will serve as a beachhead for Dash in the Asian market.”
Whaleclub matches trades internally at no cost to traders. There are no executions fees, orders are filled in 1 click instead of tranches (no slippage), and stop and take-profit orders execute at the prices set, reducing risk and trading costs as compared to a traditional order book exchange.