ThinkMarkets, a multi-asset online broker, has added five new decentralized finance (DeFi) tokens to the line-up of cryptocurrency contracts for difference (CFDs) customers trade on its platform.
The new tokens are BNB (Binance Coin), LUNA (Terra), AVAX (Avalanche), ATOM (Cosmos) and ALGO (Algorand).
The broker, a registered trademark of the global financial services provider, ThinkMarkets Group, announced the addition on Thursday on its website.
The addition of the new crypto CFDs comes over a month after the online broker announced its entry into the Japanese forex trading market with the launch of its online trading services in the country.
In the announcement, ThinkMarkets said its customers could “place long and short bets on cryptocurrencies by using CFDs in a safe and regulated environment.”
The broker's old and existing crypto CFDs include cryptocurrencies and tokens such as BTC, ETH, LTC, BCH, XRP and Cardano, among others.
Its CFD offerings, however, go beyond cryptocurrencies to cover other markets: forex, indices, energy, metals, shares and exchange-traded funds, and futures.
Meanwhile, ThinkMarkets in February had announced that it was increasing the margin requirement of several contract for difference (CFD) instruments on its platform due to 'unprecedented' volatility in the global equities market that caused a liquidity crunch.
“Due to unprecedented volatility and low levels of liquidity in the global equity markets, ThinkMarkets is increasing the margin requirements on a selection of CFD equity products across our MT4, MT5 and ThinkTrader platforms,” the broker had noted.
Expanding ThinkMarkets
In February, ThinkMarkets closed $30 million in funding to expand its services across multiple verticals in several jurisdictions globally. The investment came from Mars Growth, a joint venture fund of Liquidity Group and MUFG.
“This funding package, supported by leading institutional investors, gives our business the liquidity to scale rapidly in line with our business growth objective,” Nauman Anees, the Co-Founder and CEO of ThinkMarkets, said.
ThinkMarkets’ expansion into Japan came a year after the Australia-headquartered broker acquired the Japanese FX firm, Japan Affiliate, and also obtained a license from the Japanese Financial Services Agency to operate in the country.
Koike Kazuhiro, the CEO of ThinkMarkets Japan, explained that the firm was seeking to contribute to the revitalization of the Japanese capital market by leveraging the strength of its group.
“We are very proud to start our business in the Japanese market, which has one of the most rigorous and well-regulated financial systems in the world,” Kazuhiro said.
