In a move to boost liquidity of the $ZIL token, Zilliqa has partnered with the Foreign Exchange Clearing House (FXCH), the member-based financial utility for Institutional Spot-FX Clearing which leverages blockchain technology to offer full transparency of settlements.
FXCH will make $ZIL funds available to provide credit lines to various liquidity providers and institutional traders using an FX SWAP facility. SWAPs are a loan product of choice for treasurers and traders looking for ROI from trading assets without taking market risk. FXCH offers this short-term loan product with three different maturities:
- Overnight
- 1 week
- 2 weeks
Franck Mikulecz, Founder and CEO of FXCH said: “This is the first time financial institutions are offered such a SWAP option with a leading altcoin. Striving to deliver the best liquidity options to our customers, we’re proud to work with Zilliqa’s experts, and support liquidity for a token reputed for its technological value proposition and impressive project ecosystem. We have no doubt that the market response from our institutional clients will be extremely positive.”
Amrit Kumar, President and Chief Scientific Officer, Zilliqa said: “FXCH expertise in FX markets is unparalleled. We are glad to partner with them on a product that is at the core of traditional markets, but still emerging in the crypto space. This new loan product will help make $ZIL more accessible for institutional investors and boost our liquidity.”
FXCH has an impressive roster of global exchange members, strong relationships with top hedge funds, and deep-domain expertise in the prime brokerage sector. They will be valuable partners as we aim to make our ecosystem more competitive and sustainable for all our stakeholders, and push convenient and simple platforms for widespread crypto adoption. Investment funds, family offices and institutional traders interested in borrowing $ZIL to trade on FXCH can register using this link.
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Zilliqa partners with FXCH to push institutional adoption via a US$10M SWAP facility was originally published in Zilliqa — Official Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.