- Roxom aims to establish a comprehensive securities market using Bitcoin as the currency for trading.
- Supported by influential investors like Tim Draper, Roxom seeks to revolutionize global finance through Bitcoin.
Roxom, a new and ambitious financial platform, is set to transform the investment landscape by establishing a securities market that uses Bitcoin (BTC) as its base currency. This innovative initiative is the brainchild of Argentine entrepreneurs Borja Martel Seward and Nicholas Damico, both of whom bring extensive experience in the cryptocurrency sector.
Roxom’s vision is supported by over $4 million in investments from notable industry leaders. Key backers include David Marcus, former president of PayPal; venture capitalist Tim Draper; Daniel Rabinovich, COO of MercadoLibre; Sebastián Serrano, CEO of Ripio; and Kingsway Capital.
Borja Martel Seward explained the motivation behind Roxom, stating,
“Every major currency has its market. The US Dollar has Wall Street, and the British Pound has the City of London. Bitcoin, with its neutrality and limited supply, is a strong candidate for the next global base currency, yet it lacks its dedicated market. This gap is what Roxom aims to fill, accelerating the development of the Bitcoin economy.”
Roxom will facilitate a BTC-based market for stocks, debt instruments, and futures contracts. This structure allows companies listed on Roxom to distribute dividends or issue bonds in Bitcoin, providing investors with opportunities to earn returns in BTC. Additionally, by enabling users to become market makers and trade options or futures contracts, Roxom is poised to drive significant interest and investment in Bitcoin.
Tim Draper, managing partner of Draper Associates, highlighted Roxom’s potential impact, noting,
“Bitcoin is rapidly becoming the preferred currency in many parts of the world. We foresee a future where people think in Bitcoin for their savings, earnings, and expenditures.”
Draper emphasized that as Bitcoin gradually replaces the US Dollar in international markets, people will begin valuing their assets in Bitcoin.
“Roxom is at the forefront of this transformation by establishing a dedicated Bitcoin exchange,”
he added.
A standout feature of Roxom is its 24/7 market accessibility, from Monday to Sunday. While stock trading follows the traditional financial system’s schedule, futures contracts can be traded at any time, allowing users to invest in assets like gold or commodities directly with Bitcoin, without time restrictions.
Roxom’s founders are committed to positioning the platform as a major player in the cryptocurrency-based financial ecosystem, offering services traditionally reserved for fiat currencies. Their long-term vision is to evolve into a global financial hub for Bitcoin trading and investment.
Currently, the Roxom platform is in its early stages. Its website features a panel listing companies with the highest market capitalization, though options for Exchange Traded Funds (ETFs) and commodities are marked as “Coming Soon.” Users are invited to join a waitlist to receive exclusive updates on new features and releases, as Roxom takes its initial steps toward realizing its ambitious goals.
The post Roxom Unveils Bitcoin-Based Securities Market Backed by Top Investors appeared first on ETHNews.
