According to PANews, the newly established UMX platform has combined cryptocurrency trading with real U.S. stocks, ETFs, and U.S. stock options.
The beta version of the platform is built on the principle of moving capital between cryptocurrency and securities, rather than separating the two markets. UMX stated that eligible users can trade cryptocurrency on the spot market, with margin, via contracts and options, as well as operate with U.S. securities.
UMX emphasized that its service provides users with positions in real U.S. stocks, not in CFDs or products that only track stock prices. Trading takes place during pre-market, regular, after-hours, and overnight sessions.
The platform targets professional investors worldwide, but the scope of access depends on location, account status, and product eligibility. The company's materials do not indicate that the service is available to U.S. residents. The offering of assets listed on U.S. exchanges and serving clients located in the U.S. are separate matters, so the distinction should remain clear until UMX publishes more detailed information on specific jurisdictions.
The main feature of UMX is the bridge between cryptocurrencies and the securities sector. Using the "Transfer to Exchange" function, users can convert stablecoins, such as USDT, into U.S. dollars and transfer funds to a securities account. The "Transfer to Credit" function allows the use of non-stablecoin crypto assets as collateral for purchasing U.S. stocks, ETFs, and stock options.
Furthermore, securities can be converted using the "Stocks to Tokens" function. The resulting tokens can be accounted for in the crypto account margin at applicable discount rates and can subsequently be converted back into securities.
