Litecoin, Ripple, and Bitcoin Cash Receive Major Boost In Middle East
The popularity of cryptocurrency is growing in the Middle East especially now that ADS Securities made known that traders using its trademarked OREX platform can now trade with another extra three cryptocurrencies.
The Abu Dhabi based international financial services company said the three cryptocurrencies added are Litecoin, Ripple and Bitcoin Cash, and are complementing Bitcoin and Ethereum that have been added since last year. Cryptocurrencies are becoming gold in the Middle East in recent time.
Speaking on the development, Head of Retail Sales at ADS Securities, Jason Hughes, said: “We are delighted to be expanding the offering on our OREX platform to include these key cryptocurrencies. OREX enables users to access the crypto markets with ease, and the flexibility of CFDs allow our clients to take long or short positions, helping their management of exposures and positioning during the current volatility in these markets.”
“Cryptocurrencies have been making waves for some time, however now that understanding of the market is growing, we believe it is the right time to introduce more coins on to our OREX Platform.”
ADS Securities is based in Abu Dhabi, the well-recognized financial services firm was established in 2011 and it is among companies under the ADS Holding Group. The financial company is focused on providing topnotch investment ideas to private and institutional firms. ADS Securities engages in banking investment, wealth and resources management, online trading, and global market. The firm also has a regional HQ office, Singapore and the UK.
This is a plus to the altcoins due to the continuous dominance of Bitcoin over the years. There is high tendency the newly added altcoin increases in popularity, usage, and value in the middle, especially in Abu Dhabi, UAE.
Over the week, there has been increasing turbulence in the cryptocurrency world with nearly all big coins affected.
Meanwhile, coins like Ripple are doing everything to get out of the mess through collaborations with big financial firms in the world. However, they all seems not to be helping matters since there is not a noticed sign of progress in the value of the altcoin.