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FINXFLO’s FXF token receives Digital Token Identifier (DTI) code

FINXFLO’s FXF token receives Digital Token Identifier (DTI) code

Last updated 12th Apr 2022
Disclosure

FINXFLO, a Singapore-based company that offers liquidity aggregation, has received a Digital Token Identifiers (DTI) code for its native FXF Coin.

FINXFLO receives DTI code

FINXFLO is  a Singapore-based company that enables cryptocurrency investors and traders a secure and highly liquid platform. It describes itself as the world’s first hybrid liquidity aggregator. Its platform uses a proprietary algorithm that distributes customer orders across multiple exchanges. By so doing, it provides them with the best prices in the market.

In a statement on Thursday, the company said that it had received a DTI from the DTI Foundation for its FXF token. The FXF token is a multi-chain token the native token for the FINXFLO platform. With it, customers can earn rebates and generate returns just by staking it. 

They can also use it in liquidity mining. According to CoinMarketCap, it has a market capitalization of about $15 million, making at a relatively small token.

DTI Foundation is a non-profit organization that was established by ETrading Software, a company that provides solutions to most exchanges. 

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Therefore, the new certification for the FXF token will be an important step in boosting trust among the coin’s investors. In a statement, Mark Hope, the Chief Compliance of FINXFLO said:

“A unique identification of digital tokens based on ISO’s new standard for digital assets will elevate wider acceptance of cryptocurrencies, reduce ambiguity, increase transparency, and set a strong foundation for a well-regulated industry. I am excited for FINXFLO to be an early adopter and to play a critical role as a member on the DTIF Product Advisory Committee.” 

Transparency is needed

The certification of the FXF token is an important step in the industry. For one, there are more than 10,000 cryptocurrencies in the market today and there are limited regulations about the industry. Besides, the industry lacks transparency, meaning that people are investing in products they don’t know about well. In a statement, Sassan Damesh of the DTI Foundation said:

“We are pleased to see growing market awareness of the benefits of this important ISO standard and delighted that FINXFLO will be joining the DTIF’s PAC.”

Crispus Nyaga

Crispus Nyaga

Crispus is a financial analyst with over 9 years in the industry. He covers cryptocurrencies, forex, equities, and commodities for some of the leading brands. He is also a passionate trader who operates his family account. Crispus lives in Nairobi with his wife and son.