At the Moscow Business Congress, well-known broker Larson & Holz announced the imminent launch of ICO following a fundamentally new direction – the crypto-version of a retail broker,Forex . At the event, Alexander Smirnov, Head of the trading and audit department at the brokerage house L & H, also known as the Head of the TOP20 traders guild, and a recognized expert in the field of exchange technologies and financial consulting, spoke about the LH crypto-project.
Today, the mentioned decision seems more than logical as millions of people around the world prefer to use electronic money rather than traditional ones, and pay for products and services by using a cryptocurrency. As stated by the company, Larson & Holz has received from their customers a huge number of requests throughout the last year, for operations to replenish and withdraw funds from their trading accounts using Bitcoin and other cryptocurrencies, therefore the huge demand for such operations prompted the broker to launch such a project.
“We are planning to create not just a platform for the exchange of cryptocurrencies, but a full-fledged brokerage platform in which all trading operations will be made in virtual currency units,” Mr. Smirnov said. “The main difference between our ICO and hundreds of similar projects will be that the crypto-broker unit will be based on the economic model that has been working for many years, allowing us to give clear financial guarantees to our investors.”
The use of cryptocurrency and blockchain technology for making transactions will help the company to effectively solve the problem of mutual settlements with China, India, Vietnam, Thailand, Malaysia, most Arab countries, and other territories whose currency legislation hampers the transfer of funds to foreign companies and inhibits the development of Forex brokers in these regions. As a result, Larson & Holz will cover a huge market and will have the opportunity to work in the global market without having a physical office in each country – a broker, making mutual settlements and storing of funds in cryptocurrencies, can work only through the Internet and will be spared the need to obtain licenses. This will attract more customers and reduce transaction costs from 6% to 1%. Thus, the introduction of mutual settlements in cryptocurrencies will allow the company to get a significant part of the audience which is well familiar with crypto-economy and stores funds in cryptocurrencies. It is important that this category of people is quite active, as well they can easily be involved in speculative transactions and turn into clients of Forex brokers.
Thus, the implementation of the project will significantly expand the active client base and, respectively, increase the company’s revenue.
“The business thanks to which we have made our name is giving people around the world the opportunity to play on the fluctuations of the exchange rate of various financial instruments, including cryptocurrencies,” Mr. Smirnov said. “Trading is conducted on the terms of margin lending, that’s why clients can conduct transactions in the amount that hundreds and thousands of times higher than their first deposit, which allows to earn substantial money within a few minutes thanks to even small exchange rate fluctuations.”
Larson Holtz has always been very sensitive to the financial balance of any of his projects.
“For more than 12 years of work, all of our products have been successful and brought revenues to their creators. I am sure that this ICO will be also successful, and our investors will be absolutely satisfied,” Alexander Smirnov said.
The project’s pre-ICO will start on October 30, 2017. It is planned to sell 20 million tokens within a month starting from the very beginning. Then, the next round of ICO will start on December 4th, during which the company will issue another 50,000,000 tokens. According to the business plan, the minimum amount of funds that Larson & Holz plans to raise on the ICO will be from 1,000,000 to 10,000,000 USD.
For more information, please visit the official project website