WandX and Blockchain Worx are launching ‘Token Baskets’ For The Masses
This partnership is aimed at curating one-of-a-kind, themed crypto ‘token baskets’ that offer a structured approach to building and trading a Basket of ERC20 Tokens and [soon] NEP5 Tokens.
Earlier this August, WandX has signed a strategic partnership with leading advisory and global Fintech-RegTech venture Blockchain Worx for developing one-of-a-kind decentralized token products aimed at helping crypto investing go mainstream. Through this partnership, both firms will team up to create themed pick-and-trade ‘token baskets’ using WandX’s proprietary Basket Protocol.
The ‘Basket Protocol’, launched earlier in June 2018, enables the creation of a composite basket of tokens using an Ethereum smart contract; the uniqueness of this protocol is that every Basket created is a smart contract in itself, hence tradeable using any wallet. This approach allows individuals as well as institutional users to balance crypto holdings, promotes seamless token portfolio creation and offers smart risk management. Presently, the team has made available two pilot token baskets comprising of a curated set of Crypto Exchange tokens and Decentralized Crypto Exchange tokens, available on exchange.wandx.co
“We are glad to partner with Blockchain Worx to create one of the first baskets which enable crypto users to buy into Crypto Exchange Tokens and Decentralized Exchange Tokens easily, hence making it easy for new users to participate the crypto market”, stated Abhinav Ramesh, CEO, WandX.
Floyd DCosta, Co-founder and CEO, Blockchain Worx, said “Interest in digital assets is rapidly growing. Individual and institutional investors are looking for ways to participate in the token economy. The token basket offers everyday folks as well as investment managers, a simple and structured approach to start building a portfolio of crypto tokens.”
Going forward, Blockchain Worx and WandX will explore curating baskets of security tokens, which will continue to evolve, thereby creating an ecosystem that supports new and smart instruments for crypto trading.
Team WandX
