Social trading allows investors to observe the trading behaviour of their peers and expert traders; and mirror their investment strategies.
It’s been described as a low-cost, sophisticated alternative to traditional wealth managers by the World Economic Forum and aims to help democratise financial knowledge and provide an alternative to traditional wealth managers.
The Standard Tokenization Protocol (STP Network) says the partnership allows them to collaborate across global initiatives, through new trading events and assets that will expand both projects’ consumer bases and communities.
Singapore based, HedgeTrade will integrate $STPT, an ERC-20 platform token native to STP Network, as a trading pair on its platform.
HedgeTrade CEO and co-founder, David Waslen says the Asia Pacific region is a strategic market for the company as it eyes future growth.
“We are happy to serve users in that market by partnering with Singapore businesses like STP Network (STPT) and offering their tokens for use in predictions on our social trading platform,” he says.
The partnership closely follows STP Network’s launch of DeFizone, an interactive Decentralized Finance (DeFi) aggregator that gives individuals exposure to a wide range of financial services.
STP also allocated up to 50 million STPT in grants to DeFi projects and teams that wish to integrate with DeFizone and the STP ecosystem.
“Our focus is on innovation, like our recent DeFizone project,” says STP Network’s cofounder, Sinhae Lee.
“I’m pleased to have STPT tokens as part of trading pairs on HedgeTrade and look forward to seeing the innovative predictions from pro and amateur traders,” she says.
The STP Network says all assets tokenised via the network are compliant across global jurisdictions and transferable across any blockchain platform, with the protocol’s on-chain validator verifying the compliance with jurisdictional and user-specific requirements of tokens built on top of the STP standard.