According to its founders, the goal of Serenity is to protect traders' funds with smart contracts and to protect traders’ accounts from theft and any other unlawful operations.
Today we are pleased to announce that the first version of Escrow has been launched. Grand Capital became the first broker to adopt the service and make it available for our clients.
Stanislav Vaneev, Grand Capital CEO:
“Our company has always striven for transparency in Forex. It’s not a secret that there’s a problem of traders’ distrust in brokers. For a long time attempts were made to solve this problem by legal means, namely, by licensing. However, due to a number of factors, a license is not always a guarantee of quality of services and security of clients’ funds. Now, thanks to the modern technology, this issue can finally be solved globally for the whole market, for companies and traders worldwide. Serenity is a wonderful project driven by young and talented people. Grand Capital became the first broker to start testing Serenity Escrow, which makes trader-broker interaction secure and transparent. The idea of Escrow based on smart contracts was supported by a large number of companies, among them our friends and partners. We believe that all these companies, like us, will cooperate with this young project. After all, most of us share the same values: transparent and honest work.”
Advantages of Escrow for traders
Let’s reiterate the advantages of Serenity for traders:
- It guarantees the security of funds on a trading account. For a deposit or withdrawal operation to be executed, it must be approved by at least two parties, This means that any actions concerning a client’s deposit must be confirmed by the trader, broker or Serenity;
- Serenity serves as an arbitrator in broker-trader disputes. If the trader thinks that there’s been an unwarranted charge on their account, they submit a claim to Serenity. If the arbitrator rules in the trader’s favor, the broker must satisfy the claim.
How start using Escrow?
You need to:
- Register on Escrow website
- Open a new Standard trading account (please, note that you can’t use your already existing Grand Capital accounts)
- Make a deposit
In what currencies can you deposit through Escrow?
Currently, you can trade using Escrow with a Grand Capital Standard account denominated in USD and ETH with Market Execution.
You can deposit to accounts created in Escrow in ETH and TUSD/USDT, the cryptocurrencies anchored to USD. 1 TUSD = 1 USDT =1 USD.
Serenity project was approved by numerous prominent fintech personalities: Dmitry Rannev (founder of AMTS Solutions), Dmitry Orlov (founder and developer of PAMM/RAMM technology), Yulia Mikhalchuk (cryptocurrency attorney, CorpLaw.Pro), Pyotr Tatarnikov (representative of The Financial Commission executive board) and many others.