A leading global online forex brokerage company, FirewoodFX is adopting cryptocurrency on its platform to streamline forex trading. European CEO <a href="https://www.europeanceo.com/finance/firewoodfx-adopts-cryptocurrency-to-streamline-forex-trading/" target="_blank" rel="noopener">reported</a> the news on December 9.

As noted in the report, FirewoodFX deployed support for USD Coin (USDC), the stablecoin which pegs to the US dollar. The support aims at offering traders a more convenient payment system, while also bringing crypto experience to forex' massive users.

Notably, in recent years, forex trading surged to become increasingly popular, gaining more attention from the public. The Industry reportedly allows people to start with minimal capital, with a reasonable return.
<h2>USDC on FirewoodFX </h2>
And, part of the development today comes in FirewoodFX's effort to help traders grow at all levels in building up their skills. The broker said in the report:

"As cryptocurrencies have become more widely used, we have sought to innovate and meet traders' demands for fast and reliable payment systems."

Given that the USD Coin is stablecoin, FirewoodFX believes it delivers a fast and reliable payment instrument. Moreover, the US dollar attribute helps it avoid the high price volatility seen with other digital currencies, like bitcoin. 

Already, the traders are pleased with the support for the USDC payment system, according to the report. Following the fast processing times with USSC, they can now transfer funds around the world with low fees. 

The traditional wiring methods usually require much time to process transactions, coupled with high cost. However, since the inception of bitcoin in 2009, this technology delivers a unique payment tool, featuring speed and reliability.

While the bond between Forex and Cryptocurrency keeps getting stronger, Cryptoknowmics reported that <a href="https://www.cryptoknowmics.com/news/foreign-exchange-trading-platform-fxcm-launches-cryptocurrency-basket-for-5-cryptos" target="_blank" rel="noopener">FXCM recently launched a cryptocurrency basket</a>.

The online foreign exchange trading platform, FXCM, released a basket for five cryptos to allow users to assemble them as a tradable product. 

They include Bitcoin (BTC), Ether (ETH), Ripple (XRP), Litecoin (LTC), and Bitcoin Cash (BCH).

Forex Broker, FirewoodFX Adopts USDC as Payment System

Ibiam Wayas is an optimistic crypto news reporter who also enjoys tech writing. He is an introvert who spends much of his time on the internet studying facts that will help him excel in the digital/cryptocurrency space.

Forex Broker, FirewoodFX Adopts USDC as Payment System

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