A London-based cryptocurrency trading firm and an insurer in the financial sector have penned a deal that seeks to make the crypto trader a preferred destination for commerce in altcoins. The agreement between Doubly, the cryptocurrency trading platform and Financial Global Insurance Solution Limited (FGI) will give Doubly’s customers an easy way out when they want to liquidate their investments on the platform.
The insurance deal reached between these two firms will take care of the needs of want-out customers of Doubly who will now be able to access their investments without necessarily causing a cash crunch. Moreover, it will ensure that Doubly maintains its liquidity at all times. The crypto trading platform that has operated since 2016 offers investors a chance to increase their cryptocurrency wealth.
Please Note: This is a Press Release
The Doubly and FGI Partnership
FGI provides a range of insurance products to clients in the financial sector. The primary role its products play is to help clients gain protection from market shocks. The insurer in most instances covers the activities of its clients as well.
The deal between FGI and Doubly is no different. It includes two products; one that gives Doubly’s clients a smooth way out if they want to cash their investments and a second one that covers Doubly’s trades. The second product ensures that Doubly’s trades are protected even though with the profit margins that Doubly has been registering. It offers a fallback plan should the market turbulence bring with them severe losses.
The deal follows a thorough due diligence process that FGI conducted to ascertain that its products will meet Doubly’s needs as well as that of its customers. For instance, the insurer looked at Doubly’s trading success as well as the daily trading volumes, liquidity, and platform expenses. The said process helps to ensure that the insurer matches appropriate products with the beneficiary. With FGI’s approval, the covers will help make Doubly a more convenient platform to cryptocurrency trading.
The Proof of the Pudding that is the Doubly-FGI Insurance Deal
The insurance cover offered by FGI will help Doubly customers to cash out their investment and leave the platform functioning without any hitches that may arise from a cash crunch. In essence, it allows Doubly customers to access the money they invest on the platform whenever they want.
For every cashout request that Doubly customers shall make, FGI will provide the cash to replace such releases. The conveniences of such easy release, however, shall cost the platform customers anywhere between 20 and 30% of the investment depending on the package they hold.
FGI is underwriting these releases at the cost of US$ 39 million per month. Plans are in motion to have the feature up and running soon. Already, Doubly has accomplished the necessary adjustments on its platform and its customers can now request the releases right on the website.
Doubly has acquired another product from FGI. This second cover which is worth US$ 15 million per trading session will protect Doubly from the harsh effects of the turbulent markets. This cover ensures that Doubly does not suffer detrimental loses in case its bot does not deliver as expected. Though the system manages impressive margins, the team at Doubly is cognisant of the turmoil and instability in the crypto trading arena. This product will lessen the burden of loss on Doubly customers. FGI, on their part, will benefit by getting a predetermined share of each of Doubly’s profitable sales.
Doubly shall benefit twofold from this last deal. Aside from the cushion it offers the platform during market turbulence; it also ensures that Doubly’s liquidity is constant at all times.
How Doubly Makes Profits
Doubly has founded in 2016. Over this period that the system has been in operation, its AI bot remains connected to many of the leading exchanges. In these exchanges, the bot gathers data, signals, and trends in the cryptocurrency market.
The bot is self-learning, which means that it perfects the outcomes of future trades using the results of the previous deals. It can analyse and execute trades with profitability margins of between 6 and 10%. Moreover, its smart and sophisticated system does more than make profitable trades; it also performs them faster than is possible manually.
The trading engine works with an internal ranking system, which evaluates the profitability of earlier trades and incorporates this information into the data that directs future trades. In the manner described, the ranking system helps the bot improve the results of future trades. Since it is connected to various major crypto exchanges, the signals it develops from the wealth of data it gets from these exchanges help it maintain the impressive margins.
More information about Doubly is available on the website.
- Richard Greene – CEO, Doubly