Favored, Inc. (OTC: FVRD) Announces Progress Update On Development Of BitTrader Pro
MIAMI BEACH, Fla., Jan. 8, 2018 /PRNewswire/ -- Favored, Inc. (OTC Pink: FVRD) announced today that the company has made considerable progress on the development of BitTrader Pro, its proprietary Crypto Currency Trading Platform.
Favored, Inc., through its wholly owned subsidiary Empire Mobile Studios, Inc., has made significant achievements in relation to the functionality and features of BitTrader Pro. More than 300 users created accounts on the platform during the Beta testing phase. Some of the features that have been successfully tested are the ability to deposit and withdraw tokens, increased server capacity, integration of multi-Sig wallet system, and Ethereum address implementation. The importance of the Ethereum address implementation is that it enables the exchange to add ERC20 tokens such as TRON (TRX), EOS (EOS), and OmiseGO (OMG).
The next phase of development will focus on creating a "liquidity bridge" by connecting to various outside exchanges which will provide a deep order book of trade volume and open interest from day one when the exchange goes live. This feature will give traders the ability to immediately buy and sell tokens once their account is approved rather than waiting on trades to clear.
"We have seen overwhelming global interest in the ability to trade Crypto Currencies and there is currently a deficiency in the marketplace where investors can do so. Favored, Inc. recognizes this once in a lifetime opportunity and it is the company's goal to have BitTrader Pro fully functional prior to the close of Q1 this year," stated Craig Coaches.
An article recently published by Business Insider paints a clear picture of the current demand by stating, "Exchanges have struggled to keep up with the breakneck growth of the crypto-market and eye-popping volumes. Now, at least three cryptocurrency exchanges — Bittrex, Bitfinex, and CEX.io — have stopped onboarding new users altogether. Twenty-four-hour trade volume in the cryptocurrency market soared above $50 billion earlier in December, which is on par with trading activity on the New York Stock Exchange. The milestone illustrates just how hot the market has become in 2017."
The company looks forward to providing further updates and additional details as they become available.
About Favored, Inc.
Favored, Inc. is a publicly traded (OTC PINK:FVRD) diversified holding company, which seeks opportunities to acquire, develop, and grow businesses that can generate long-term sustainable free cash flow and attractive returns in order to maximize value for all stakeholders. Favored seeks to develop a diverse array of operating subsidiaries.
Forward-Looking Statements Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward- looking statements to reflect events or circumstances after the date of this release.
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