FinaCom PLC has signed an agreement with the Intelligent Bitcoin Exchange (IBINEX), a new ECN liquidity platform solution, which provides crypto currency access to FX Brokers. The Financial Commission will independently act as the designated self-regulatory organization to provide regulatory and compliance oversight to Ibinex.
Commenting on the release Commission’s Chairman Peter Tatarnikov said – “We will be providing broker customers an avenue for arbitration and hearing trading related cases. Also, due to the unique aspects of bitcoins and other digital currency related businesses, our newly created Crypto Division will be adding accounting and capital requirements monitoring to its supervisory role”.
The Ibinex project is managed and developed by Gallant Partners; a long standing Fintech development company. Having a January 1st, 2015 launch date, Ibinex is specifically targeting Forex brokers, by offering an out-of-the-box MetaTrader API Bridge solution for a seamless integration.
Gallant Partners founding member Simon Grunfeld commented:
“Our group of founders are very anxious to be part of a new wave of innovation within the crypto currency marketplace. All of the stakeholders involved, are representing various aspects of the industry; from Technology to Compliance. These members represent a full spectrum of knowledge and experience, who’s looking forward to what this model will mean to the industry as a whole.”
For more information on Ibinex, please visit www.ibinex.com
For questions related to crypto currency regulation, please contact Financial Commission at [email protected]