Recently, a domestic technology company successfully made a bridge with US stock and offered a convenient purchase channel.
According to an insider from Internet VC, the product is called Hox crypto stock World. The Hox team is made up of more than 20 technical members from technology companies such as Google and BAT (Baidu, Alibaba, Tencent). It abandoned traditional marketing operations and business development positions, mainly focused on building technology and product team to constantly improve user experience of product.
It is reported that Hox is the world’s first platform that provides direct trading of stocks with cryptocurrency. It has been recognized by users since it was launched for only three months. The DAU (Daily Active User) is between 300 and 1500, the registered users are more than 10,000 and the daily transaction amount is a few thousand to tens of thousands dollars range, some users even deposit hundreds of thousands USDT to buy a variety of stocks.
The author/myself also made a trial at hox.com and learned that users only need to register, binding, create a payment password and can use USDT to purchase US stocks. Moreover, the handling fee incurred in purchasing stocks will be deducted according to the requirements of the normal stock exchange. Users who want to sell off stocks can also directly convert the stock into equivalent USDT for withdraw. The whole process is completely out of fiat currency, i.e. it does not need to use any fiat for operation.
In terms of asset security, users also don’t need to worry about that. Stocks are locked in exchanges like NASDAQ, hackers can’t hack it through technical methods, and the digital currency on Hox platform will be converted into stock assets in a short period of time.
The Hox team will continue to optimize product experience and add functions in the future. At the same time, on the route map, we will not learn from any stock exchanges and digital assets exchanges, but will develop unique products and services based on market conditions. For example, use blockchain technology to achieve 7*24-hour trading that is not limited to the opening and closing times of traditional stock exchanges.
The development trend of blockchain technology is blur due to the market downturn. But in the eyes of the Hox team, blockchain technology is great, it is possible to change the monetary relationship of human society, and the change of monetary relations will stimulate the progress of social productive forces. No one can stop this trend. For example, before the stable coin occurs, the concept of crypto and stock trading will not appear. The difficulty of purchasing high-quality stocks will still be common, and USDT allows the birth and successful run of Hox. This is the optimization of currency relations and the improvement of productivity efficiency.
Converting digital currency into stocks is undoubtedly another proof of the innovative application of blockchain technology. At present, the world is on the eve of large-scale technology-driven innovation, more and more innovative applications are helping the technological revolution in the industry move forward. Will Hox become the new “unicorn” for blockchain applications? Let us wait and see!
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