Global fintech company and cryptocurrency exchange startup, Quoine has launched Liquid, a one-stop crypto trading platform that will allow users to access a global network of cryptocurrency exchanges thus bringing the much-needed liquidity to the cryptocurrency market.
The lack of liquidity and the fragmentation of the trading landscape in the crypto industry has hampered the growth and development of nascent cryptocurrency market and the new platform will hopefully help in addressing the issue by ushering in greater stability. This is an indication that the crypto industry is once again on the right track.
“Cryptocurrency markets need stability. This year, the 30-day BTC/USD volatility (according to buybitcoinworldwide.com) 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,” said Mike Kayamori, Co-Founder and CEO of Quoine.
When it finally goes live, Liquid users will have the opportunity to match trades across a number of multiple transactions and digital currencies. This means that the users will be able to make cross cryptocurrency conversions while at the same time being able to convert from the Singapore dollar (GSD). Examples of the orders that can be matched together included BTC/SGD, ETH/SGD, and BTC/ETH.
A Lot More to Come
The subsequent stages of Liquid’s launch will see the platform offer a World Book technology which aggregates the orders and prices on various exchanges into one highly liquid and tradable order book that allows the customers to place orders in their currencies of choice.
“…Liquid is more than just 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,” Kayamori explained.
Basically, the problem that Liquid intends to solve is the shift of liquidity and best prices from one exchange to another – this has resulted in substantial accessibility issues for the crypto traders as well as substantial price volatility. Liquid’s World Book will use its engine technology to provide liquidity so as to ensure the traders can always trade with healthy order books.
“Quoine aims to provide liquidity to the non-liquid crypto economy. With the launch of Liquid, Quoine is building a solid, global financial utility. An advanced platform the entire crypto economy will use to great advantage; where anyone can participate as users and token holders,” said Mario Gomez Lozada, the Co-Founder, President and Chief Product Officer of Quoine.