Teletrade Partners with Blockchain-Based Escrow Provider Serenity

CySEC-regulated FX broker TeleTrade has partnered with blockchain-based escrow service provider Serenity, which taps the emerging technology to manage the relationships between traders and brokers‎.

Serenity platform aims to secure the safety of trading through blockchain-based capabilities that enable trade participants to check the validity of transactions and to check whether clients’ trades were fairly priced, executed or not.

The startup has recently managed to raise as much as $4 million in a single round of funding through an initial coin offering (ICO) for its SRNT token.

Serenity’s system also offers an independent arbitration platform. Thanks to ‎the blockchain technology, all trade operations ‎can be recorded, which ‎allows traders to check the accuracy of trade executions by brokers. The ‎brokers, on the other hand, will be able to demonstrate the speed and ‎accuracy of their service to traders at all times‎.

Earlier in April, Serenity joined hands with Atirox and Make Capital Group to expand its business reach worldwide.

Commenting on the news, Serenity’s founder Stanislav Vaneev said: “The ‎partnership with the global FX company TeleTrade will give us a great ‎opportunity to adapt our solutions in local markets around the world. Without ‎any doubt, the partnership with TeleTrade Group of Companies will help ‎Serenity grow in numbers and achieve its goals in the nearer future.” Mr. ‎Stanovoy also added that “Brokers that join Serenity demonstrate the will to ‎be transparent and open to traders and the financial industry as well.”‎

In an exclusive interview last month, Mr. Vaneev told Finance Magnates: “Serenity will protect participants with a smart contract which will ensure trading and other activities are conducted according to the market rules and practices and at fair prices so that nobody is hurt or cheated.”