Blockchain Trading Network Promises Low Fees And Instant Trades On Financial Assets

An established and regulated broker is launching a Blockchain-based trading network which allows users to trade any financial asset around the world.

ThinkMarkets, the parent company behind the upcoming TradeConnect platform, plans to "Democratize" the industry by enabling trades to be settled in seconds rather than days.

Ending the dominance of big banksThe team behind ThinkCoin and TradeConnect believe Blockchain has the potential to deliver the biggest shake-up to the markets since the advent of electronic trading in the 1980s.

Under the TradeConnect platform, trades are automatically executed through smart contracts which are based on external sources and impartial information.

Only ThinkCoin can be used to perform trades on the network.

A 'connect fee' is charged for each trade that is completed on the TradeConnect platform - and the company says 75 percent of the revenue generated will be returned to participants in the ecosystem, with the rest being used to further develop the network.

The company already has a presence across three continents and "Almost a decade's worth of data on how tens of thousands of traders react and interface on our trading platform."

Funds would be used to generate new users and diversify the trading products which are available through TradeConnect.

A beta version of the Blockchain network is going to go live in August, and the functionality for FX and CFD trades will be introduced in October.

Further trading products are expected to be added by the beginning of next year, and the company expects that TradeConnect's IPO will take place in the summer of 2019.