This week, Quoine, a global fintech company, launched Liquid, a crypto platform that will bring liquidity to crypto markets around the globe. Liquid will allow users to access a global network of crypto exchanges.
As of now, the platform allows users to match trades across multiple cryptocurrencies and transactions. For example, a user can match the orders of BTC/ETH, ETH/SGD, and BTC/SGD. This will increase the liquidity of all crypto coins available on the Liquid platform.
Later on, the platform will offer World Book technology that will aggregate the prices and orders on different crypto exchanges into a single order book. This will make the order book highly liquid and tradeable using any currency of choice.
Liquid aims to solve the problem of fragmented trading and lack of liquidity, two issues that have hampered the development of crypto markets. The platform will enhance liquidity, ease market stability and empower a new group of crypto traders to buy and sell crypto coins safely.
Quoine, the parent company of Liquid, is the first crypto exchange to officially be licensed by Japan financial Service Authority (FSA). Also, it’s two other existing trading platforms, Quoinex and Qryptos are among the most advanced around the globe. The virtual currency exchange and its existing trading platforms will merge into the Liquid portal. This will provide access to liquidity pools that are sourced by a unified platform.
Currently, crypto exchanges offer overlapping variety of crypto pairs. This fragmentation of the trading landscape has always led to volume and price discrepancies. And in turn, this leads to the creation of individual currency silos. It has meant liquidity isn’t even across all crypto exchanges and the result is accessibility issues for traders and high price volatility.
Commenting on this Mike Kayamori, the Co-Founder and CEO of Quoine said:
“Cryptocurrency markets need stability. This year, the 30 day BTC/USD volatility index has been above 3% for almost the entire year, with highs topping 8% at the start of the year. Liquid is paving the way to a less volatile future by improving liquidity within the cryptocurrency ecosystem.”
“But, Liquid is more than a cryptocurrency exchange. Liquid is an all-in-one platform that will bridge the gap between traditional finance and the token economy. We offer everything you need within our suite of services, while our underlying tech will help connect a global crypto community.”
Ouoine raised $105 million in November of 2017 through an ICO to fund development of Liquid.
Basil has three years of freelance experience writing on disruptive technologies. He focuses on breaking news and education pieces; helping to spread the gospel of Blockchain. He hopes to have his own blockchain company one day; helping the world through its innovative ledger technology