Maverick FX has transformed itself into Maverick Currencies. This comes as Maverick FX extends its services beyond forex trading business.
Maverick FX transforms into Maverick Currencies as it includes cryptocurrency exchange
On January 3, Maverick FX, the overseas cash exchanging division of the exclusive exchanging organization, Maverick Trading, announced that it had changed its name. The corporate expressed that as of 1st January 2022, it’s currently working under a new corporate name of ‘Maverick Currencies’.
The firm made such a strategic move because it currently allows its customers to trade cryptocurrencies, and, therefore, it has expanded beyond its original forex trading business within the recent past. Maverick Trading allowed its customers to trade Bitcoin futures and future options in its stock/options division.
Maverick Trading CEO Darren Fischer talked about the transformation: “There were two driving forces behind this decision. The first were inquiries and requests to trade cryptos from our existing traders. The second force was that this is simply where the market is going and, as a top prop firm, we’re going to be along for the ride if not leading the pack.”
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Maverick Trading Founder and Head Trader, Robb Reinhold, discussed what kinds of digital currencies its clients could exchange: “At the outset, our traders are going to be permitted to trade Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. As more brands of crypto become accepted and adopted, our traders are going to be ready to trade them too.”
Reinhold further explained, “While trading is trading, there are some aspects of trading cryptos that traders need to understand and consider. We’re confident that the additional material we provide for our traders will set them up for success in the crypto realm.”
Why do organizations change names?
Maverick Currencies’ transformation comes when several companies have changed their business names. For example, Facebook changed to Meta Platforms, Inc.
There are different reasons companies change their names.
Social discernments can change quickly, and firms put forth a valiant effort to expect such changes ahead of time. Assuming that they don’t transform it on schedule at that point, their hands may get forced to.
Aside from that, a decrease in quality, outrages, scandals, and other related reasons could come to play. An organization might declare another name as a way to get clients to shed its old negative connotations.
Some firms change corporate names when they succeed with new product offerings. A firm’s name could limit them when there is rapid growth and may not accurately depict recent changes.