Fintech company Quoine announced today that it has launched a cryptocurrency trading portal, Liquid. Through the portal, users will be able to access a global network of cryptocurrency exchanges.
Currently, with Liquid, users can match trades across multiple transactions and cryptocurrencies. This means that orders of BTC/SGD, ETH/SGD and BTC/ETH can be matched together.
As time goes on, Liquid aims to offer a ‘World Book’ technology. This will combine the orders and prices on various exchanges into one tradable order book. From here, orders can be placed in the currency of the user’s choice.
Through its matching engine technology, Liquid’s World Book will provide liquidity. It will match orders to allow traders to buy and sell into healthy order books.
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Commenting on the launch of Liquid, Mike Kayamori, 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.
However, 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.”
Quoine to merge existing platforms with Liquid
For its Japanese operations, Quoine was the first global cryptocurrency exchange to be officially licensed by Japan’s Financial Service Authority (FSA). The company has two trading platforms – Qryptos and Quoinex. These will merge into the new portal and provide access to liquidity pools sourced by a unified platform.
According to the statement, in November last year, Quoine raised $105 million in its initial coin offering (ICO) to fund the growth of Liquid. At the moment, the firm processes annual transactions worth more than $50 billion.