Crypto

TP Global FX adds crypto powered by Labuan-regulated Belfrics

TP Global Limited, a Mauritius-based brokerage firm, has partnered with Belfrics in order to offer crypto derivatives and blockchain solutions to  its clients. 

Belfrics operates its cryptocurrency exchanges on its proprietary trading platform on its global KYC blockchain, which is licensed and regulated by the Labuan Financial Services Authority (LFSA) in Malaysia.

TP Global FX is a retail FX and CFD broker founded in 2014 with roots in the Middle East and North Africa (MENA) region. The brokerage firm has recently entered the South American and South East Asian markets.

TP Global FX has decided to add crypto to its product offering in order to fulfil its ambition of onboarding 120,000 clients in 2023 and reaching a monthly trading volume of $1 billion in crypto derivatives by end of 2023.

Nitish Sharma, Global CEO, TP Global FX, said: “At TP Global FX we have always strived to innovate our services, keeping the demands of our customer at the center stage. With the growing demands of the Crypto derivatives industry, our users needed our services more than ever. After carefully evaluating our options, we decided partnering with Belfrics offered the best solution.”

“We believe trading in Crypto Derivatives will see massive growth as cryptocurrencies gain popularity all over the world. We had planned to enter the ecosystem of cryptocurrencies and have found an able partner in Belfrics who will not only support us in crypto liquidity, but also with blockchain solutions to expand our services to new domains.”

TP Global FX has offices in Europe, Africa, Mauritius, Nigeria, Armenia, Vanuatu and Dubai. The firm offers Signal Services, Copy Trading, and Crypto Contracts Trading.

The following 25 currencies are available for trading on Belfrics exchanges; BTC, ETH, BEL, ADA, SOL, LTC, USDT, XRP, BCH, DASH, FTM, TRX, XLM, MATIC, SHIB, UNI, OMG, ZRX, LINK, USDC, PAXG, WBTC, DODGE, DAI, and DYDX.

Praveen Kumar, Founder and CEO of Belfrics, commented: “We are proud to partner with FX broker TP Global on Belfrics’ crypto derivatives and blockchain solutions. This strategic partnership is in line with our strategy of increasing our B2B services, and it will support our goal of adding traders and investors to the Belfrics Exchange. We have great expectations for our collaboration in strengthening and promoting our ability to provide global trading in digital assets, cryptocurrencies, and crypto derivative contracts, as well as our KYC compliant blockchain solutions.”

Life Clips is the parent company of Belfrics Global, a multi-feature trading platform offering digital assets, cryptocurrencies, and crypto derivative contracts.

Robert Grinberg, CEO at Life Clips, added: “This is a big step forward for Belfrics as we gain new customers on both the Belfrics Exchange and our Belrium blockchain. Belfrics has the capability to expand its network by serving as the engineer of opportunities and the catalyst of growth for other crypto and FX providers. Opportunities such as this one with TP Global FX are paramount to our plan to continue to build Belfrics’ business operation with justifiable growth plans.”

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