BUX, a brokerage platform based in Amsterdam, has launched cryptocurrency trading following a recent exchange acquisition.
In a company statement issued April 8, the firm officially announced BUX Crypto – a digital assets trading platform offering a limited-time zero-commission fee structure.
At the start of the year, BUX acquired the defunct crypto exchange, Blockport, which declared bankruptcy in a court in Amsterdam in May 2019, after running out of operating capital.
The acquisition has paved the way for the brokerage platform to begin offering cryptocurrencies to European traders, pending regulatory approval by the Dutch central bank, De Nederlandsche Bank.
“We have been developing apps that fit the needs of a new generation of investors,” said Said Nick Bortot, CEO and founder at BUX in a statement.
“We see BUX Crypto as a natural extension of our current lineup … for even the newest investor to get into the financial markets,” Bortot added.
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The new platform will allow traders to buy and sell bitcoin (BTC), ether (ETH), XRP (XRP), bitcoin cash (BCH), litecoin (LTC) and BUX Tokens (BUX) using euros, saving investors additional fees on exchange rates from U.S. dollars.
“The product roadmap will focus heavily on building unique features that can bring both beginners and advanced investors together to learn from each other,” said Sebastiaan Lichter, head of product at BUX Crypto.