Forex social media start-up creates own currency

Forex social media start-up creates own currency

Currensee, the start-up social network for personal and professional forex traders, is to start issuing its own virtual currency which can be exchanged for goods and services over the site.

The month-old start-up is introducing a new online 'Marketplace', where members can shop for professional products and services, including training and coaching from industry experts, professional-level research, e-books, newsletters, and trading tools from firms such as, The Hansen Finance Group and FX Tech Strategy.

As part of the launch, Currensee has launched a rewards programme which gives members the opportunity to earn 'Currensee Bucks' by actively participating in the trader network. Members earn Bucks for activities like inviting friends to join, creating discussions and polls, linking new accounts and by trading and shopping on the site. Personal Bucks balances can be offset against purchases from the Currensee Marketplace.

Currensee opened its private beta to the public just last month after securing $6 million in funding from North Bridge Venture Partners.

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