The European Binaryx digital assets exchange has launched a set of services aimed at businesses, allowing them to diversify their crypto assets portfolios and bypass the hurdles typically associated with purchase and sales operations, as well as direct digital asset safekeeping.
The new services by Binaryx grant businesses the possibility of investing in Bitcoin and other digital currencies without resorting to direct holding and maintenance of their portfolios.
“Many businesses aim to hold cryptocurrencies to hedge risks, and we strive to create flawless services and conditions to help them allocate their funds in different assets to lower risks and achieve greater liquidity,” as stated by Oleg Kurchenko, founder and CEO of Binaryx.
The exchange also released custodial storage and OTC services, allowing the storage and purchase of large amounts of cryptocurrencies without risks of price volatility or market fluctuations.
Binaryx is launching the services at a time of heightened interest towards digital assets on the part of institutional investors, who have been accumulating large amounts of Bitcoin and other currencies on their accounts and in dedicated funds. Among the leading companies investing in the market are MicroStrategy, Galaxy Digital, Goldman Sachs, and others, which have been expanding their digital asset portfolios. Reports provided by CoinGecko indicate that public companies are currently holding around 5% of all Bitcoins, or 193,000 coins, roughly equivalent to $6.5 billion at current exchange rates. Another 3% of all coins are held by the Grayscale asset management and custodial company.
The growing accumulation of digital assets is giving grounds for the Binaryx development team to believe that European companies are in need of the instruments necessary for accumulating, holding, and properly managing crypto portfolios.