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Fasset Creates Fee-Free Cryptocurrency Exchange for Gulf Region

27 September 2020, 11:38
Votes: 1

The British-based organization Fasset, which is focused on financial services, declares the first exchange with the absent trade-related fees for cryptocurrencies. The company launched the project in the Gulf Region with only six countries involved, but it would likely conquer the whole world crypto trade. Even though Fasset will still take withdrawing and OTC perquisites, it seems to be a step ahead in the cryptocurrency facilitation.

Fasset Creates Fee-Free Cryptocurrency Exchange for Gulf Region

The latest cryptocurrency news has already informed about the intention to create a fee less crypto exchange in the Gulf Region by Fasset in July, and its beta version has been presented recently. The newly-created platform called FEX (Fasset Exchange) is operating in only six countries, including Bahrain, Oman, Kuwait, Qatar, the UAE, and Saudi Arabia.

The representatives, however, have already declared to move the project on the global market. As the popularity of crypto assets increases and new digital currencies appear, the demand for crypto exchange platforms also rises. Simultaneously, trading organizations have to surprise and conquer new clients, which forces them to implement customer-oriented approaches like zero fees.

Still, the Over-The-Counter (OTC) payments will be present on the FEX, along with withdrawing fees. The OTC ante rates have not been represented yet, but they are expected to be attractive for the platform users. Although the Gulf Region will be first to test a new trading approach, Fasset promises to expand its financial services worldwide in a couple of months.

Why can the Zero-Trade approach in cryptocurrencies boost FEX?

As the cornerstone aspect of FEX will be the absence of fees for trading operations, it opens a new sector to pay attention to. Obviously, the regarded approach gives more ample opportunities for those who are focused on the trade only and use withdrawing rarely. If such a plan finds vast support from traders, it will boost FEX to the top of crypto-exchange platforms.

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