Looking for a way to invest your bitcoin in the UK market? First Global Credit, a firm that allows cryptocurrencies to be used as collateral margin to trade stocks and ETFs, has announced that it expanded the range of available equities to include shares traded on the London Stock Exchange.
Traders can deposit bitcoins to the platform which are used as collateral margin to secure long or short positions in the stock markets. First Global Credit uses a derivative called a TRS (total return swap) to buy or short shares on behalf of their customers, sweeping profit or loss when the positions close into their account in bitcoin. It was launched in October 2014 and in April 2015 Jon Matonis, a founding board member and former executive director of the Bitcoin Foundation, joined First Global Credit Board as a non-executive director.
“The best way to serve our customers is to provide choice,” says First Global Communications Director Marcie Terman. “We already offer a good mix of tech, entertainment, internet and health care stocks and while we offer several ETFs which cover geographic growth areas like Brazil, Russia, China