First Global Credit, the London-based firm that enables cryptocurrency to be used as collateral margin to trade stocks, ETFs and commodity futures, has added 30 German equities to the almost 400 assets already available on the bitcoin-backed trading portal.
Among these are included Merck, Deutsche Börse, Deutsche Telekom,Lufthansa, Bayer, Adidas, Volkswagen, Daimler, SAP, Siemens, Continental, BMW, Deutsche Bank and Commerzbank.
“Adding choice to what we offer bitcoin holders is key to the development of our business,” stated First Global founder Marcie Terman. “The cryptocurrency market has an appetite for choice. That is clear,” continues Terman. “It is also sensible to provide diversity because when you have such a broad choice of geography and company focus; tech, medical, entertainment, hospitality and gaming to name just a few, there is always price action somewhere on the platform.”
“That is a key differentiator from the other participants in the growing bitcoin trading and investment space where one-product companies seem to dominate. Either companies focus on allowing their customers to trade a few indices or the ability to make bitcoin loans for example,” says First Global CEO Gavin Smith, “we’re developing a business where these limitations simply do not apply.”
“First Global Credit is the first cryptocurrency company where the underlying hedging technology allows us to offer new products in a way other companies cannot match due to the limitations of their less sophisticated tech and hedging systems. Our goal from day one has been to develop technology that could handle not only the movement of hundreds of different markets and investment types coupled with the management of tens of thousands of individual client accounts. Also, it needed to be able to support the interaction of fiat and potentially volatile cryptocurrency price relationships as well,” continued Smith.
This addition of German stocks comes on the heels of the addition of over 50 Chinese and Hong Kong equities in February.