ATFX Launches Blockchain Technology
ATFX just launched a new fintech service that allows its existing partners and potential clients to experience an extremely trustable verification process. The new service is based on a proprietary blockchain network built by the company's IT team and is an industry first.
The broker has been making waves in the Forex and CFDs industry since launching a few years back due to the innovative and transformational technologies it has introduced into the markets.
ATFX was the first broker to introduce automated verification of new client accounts using facial recognition software. The broker was also among the very first firms to introduce the electronic signing of documents by its clients to minimise its carbon footprint.
ATFX's latest blockchain verification technology is revolutionary since it allows potential clients to verify through blockchain whether an introducing broker (IB) is registered with and authorized by the broker. The technology, powered by a proprietary blockchain network, will help clients trade with truly high security. The new system is two-pronged in that it also allows IBs to verify the status of the referred accounts.
Blockchain technology has helped transform many other industries, but its adoption in the Forex and CFDs trading industry has been slow. Many brokers are hesitant to adopt blockchain technology despite its numerous advantages, such as faster transaction speeds, increased transparency of financial transactions and providing extra security within financial networks.
As a fintech-based broker, ATFX saw the significant advantages of adopting blockchain technology in its operations. It has been working on the IB verification project for a few months.
By using a blockchain network to verify its IBs, ATFX can guarantee that malicious actors can never alter the records due to the immutable nature of blockchain transactions. Opening the records to prospective and current clients makes it very transparent, making it a real trustable trading environment ATFX's clients.
Over the past few years, ATFX has built a reputation as an industry-leading fintech broker, and the latest blockchain service is proof that the broker's status is well-deserved. The broker continues to demonstrate its commitment to revolutionising the FX and CFDs brokerage industry via innovative services backed by cutting-edge technologies such as blockchain.
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