BestTrade Recognizes MFHD as Project Deposit Payment Method
Wednesday, May 20, 2020 2:15 AM
LONDON, UK / ACCESSWIRE / May 20, 2020 / BestTrade Exchange (www.besttrade.com) has announced that it has entered into a strategic partnership with Dao Trust Limited (www.daotrust.io) and has identified its digital stock issue MFHD as one of the payment methods for the project deposit. It is worth noting that MFHD, different from other platform tokens, it can be used not only on the BestTrade Exchange to pay project deposits, but also in all businesses and user scenarios within the MFHD ecosystem.
"We chose MFHD as our one of the payment methods for the project deposit because we feel optimistic about its future applications." said the head of BestTrade Exchange operations: "MFHD is a digital stock 1:1 backed by the Nasdaq-listed stock MFH and is applicable to the entire digital ecosystem, including settlement and other businesses. This will bring more possibilities for the circulation and landing applications of MFHD." MFHD is issued by the digital stock service platform SuperStock (www.superstock.io) under Dao Trust Limited. SuperStock has digitized Nasdaq-listed stock (ticker symbol: MFH) through blockchain technology and has successfully issued a digital stock MFHD that is 1: 1 backed by the underlying stock. A total number of 500,000 MFHD tokens will be issued at the first stage.
Stock digitization has broken the restriction that traditional stocks can only be traded during market hours. It has achieved 24/7 trading, lowering the investment threshold. Investors will be able to trade stocks anytime and anywhere with only one account. In addition, digital stocks are also given the attributes of stock payment. In other words, it has both payment and settlement functions. For example, within the ecosystem, MFHD can be used as a payment method online or offline .
As blockchain has been more popular in recent years, the scale of platform token, as a main payment method on exchanges, has been increasing constantly. According to an incomplete statistic, platform token now only takes 2.5% of the market value of the entire crypto market, and its proportion is still growing. The ecosystems of most platform tokens are relatively simple, however, platform tokens like MFHD are digital stocks as they can be commonly used in ecosystem alliances. It not only helps develop more user scenarios and related applications, enhancing trading depth, but also creates greater economic value for BestTrade and its ecosystem alliance, thus improving the crypto ecosystem.
Name: Daisy Zhang
Email: [email protected]