IQ Option, one of the major binary options brokers regulated by the Cyprus Securities and Exchange Commission (CySEC) has joined the Serenity Financial blockchain-based settlement system.
According to the official announcement, IQ Option will be among the first brokers that will increase security for their binary options trading clients by providing services through Serenity platform.
The platform unites forex brokerages and cryptocurrency exchanges from all jurisdictions. It is based on the blockchain technology and records all transactions, trades and withdrawals, thus guaranteeing fairness of all trades and withdrawals. The trading history is recorded in public blockchain, preventing any forgery. Additionally, the Serenity Financial platform can act as an arbitrator and can settle disputes between brokers and traders.
According to Dmitry Zaretsky, Founder of IQ Option, their team always invests in fintech development and supports everything that can replace the outdated standards of the financial industry. In his words, the Serenity project has come up with a great idea of how to utilize blockchain in the Forex and Binary Options industry to protect funds and increase transparency.
IQ Option started off as a binary options broker, but the increasing regulatory pressure has prompted it to expand its offering. Currently the broker offers trading in forex, CFDs, cryptocurrencies and binary options. According to its own estimates, it has a monthly trading volume of USD 11 billion.
The company is regulated by CySEC and is authorized to provide investment and ancillary services in the European Economic Area (EEA – EU states, Iceland, Norway and Liechtenstein) and cross border services to countries outside the EU – Australia, Canada, China, New Zealand, Singapore, South Africa, South Korea, Russia and Ukraine. IQ Option Europe is also registered by UK’s FCA, authorized by Italy’s Commissione Nazionale per le Società e la Borsa (CONSOB) and regulated by the French Financial Agents Register (Regafi).
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