Straits Financial Group becomes first US futures trading firm to accept Bitcoin payments

Straits Financial LLC will be the first futures trading firm in the United States to accept Bitcoin payments through BitPay. The company announced that it will accept Bitcoin deposits in commodity futures, including stocks and precious metals markets.

Straits Financial LLC Clients Can Use Bitcoin

Straits Financial, a Singapore-based financial group, offers a variety of trading instruments such as commodity futures, over-the-counter markets and their derivatives.

Straits Financial said Singapore has undoubtedly become the international financial center of Asia, and they also hope to keep up with the country's role in financial prosperity. By partnering with BitPay, the brokerage will allow customers to use Bitcoin in certain markets.

The company is continuing to expand its trading services business through strategic moves and recently received a capital markets services license from the Monetary Authority of Singapore. Straits said the partnership with BitPay will help expand its business.

The company explained how it will enable more customers to trade stocks, energy futures, metals, foreign exchange and agricultural investments by accepting Bitcoin. Joseph Mazurek, president of Straits Financial LLC, said in the announcement:

“This is a huge step forward for Straits and the industry. BitPay will help customers more easily convert bitcoin into fiat for futures trading, and also provide the bitcoin community with an easier investment option.”

Cross-border money transfer company WB21 also joins the cooperation

BitPay Chief Commercial Officer Sonny Singh said Bitcoin is the fastest and most secure way to top up your trading account. BitPay is also pleased to work with Straits Financial and hopes that Bitcoin will become the standard in the futures trading market.

In addition, WB21 will also help provide cross-border transfer services, aiming to be faster than traditional financial services institutions. Singh explained, "WB21's real-time cross-border currency conversion service will make international transactions a better option."

WB21 CEO Michael Gastauer also said that the company’s real-time Bitcoin deposits and multi-currency banking system will provide customers with a fast and convenient solution to deposit funds into their trading accounts.

With Straits Financial accepting Bitcoin, investors will have more opportunities to diversify their portfolios. Straits said that accepting Bitcoin will bring the company a wider customer base and can also serve investors who prefer to pay with cryptocurrency.