Accessibility to bolster sector-wide liquidity
Global fintech company Quoine yesterday unveiled Liquid, a cryptocurrency one-stop trading portal, which will allow users to access a worldwide network of cryptocurrency exchanges.
The development of cryptocurrency markets has been hampered by a fragmented trading landscape. Potential buyers and sellers have been confined to single platforms and like-for-like trades. Liquid allows users to access a worldwide network of cryptocurrency exchanges and match orders from different currencies, enhancing liquidity, facilitating market stability, and empowering a new wave of digital asset traders to buy and sell tokens safely.
At launch, Liquid allows users to match trades across multiple transactions and cryptocurrencies. For example, the orders of BTC/SGD, ETH/SGD and BTC/ETH can be matched together. This is expected to greatly increase the liquidity of all available cryptocurrencies on Liquid.
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In subsequent stages, Liquid will offer a multi-market order book that is able to aggregate the orders and prices on world’s various exchanges into a single, highly liquid and tradable order book, allowing orders to be placed in the currency of one’s choice.
A non-fragmented and liquid crypto economy
Quoine is spearheading a new world where a crypto exchange can offer much more than an overlapping variety of cryptocurrency pairs. Connected exchanges mean fewer price and volume discrepancies between them. Liquidity and the best price will no longer have to constantly shift from exchange to exchange around the world, substantially reducing price volatility and creating a global level playing field for traders.
“Cryptocurrency markets have been crying out for stability. All through 2018, BTC/USD has been incredibly volatile, creating market inefficiencies and huge headaches for traders. Liquid heralds a less volatile future and improved liquidity within the cryptocurrency ecosystem,” said Mike Kayamori, Co-Founder and CEO of Quoine.
“However, Liquid is more than just a cryptocurrency exchange. Liquid is an all-in-one platform that will help integrate traditional finance and the token economy. We offer everything you can expect from a full-service trading platform, while our underlying tech helps connect a global crypto community.”
Liquid combines Quoinex and Qryptos, two of Quoine’s existing platforms. Quoinex is a fiat to crypto exchange and is one of the largest bitcoin exchanges in the world by transaction volume. Qryptos is a crypto-only exchange and trading platform. Fuelling the new Liquid platform will be a utility token called QASH which grants access to the full suite of services on Liquid, along with discounts and additional benefits.
“Quoine aims to provide liquidity to the non-liquid crypto economy. With the launch of Liquid, Quoine is building a solid, global financial utility. Liquid will be an advanced platform the entire crypto economy will use to great advantage; where anyone can participate as users and token holders,” says Mario Gomez Lozada, Co-Founder, President and Chief Product Officer of Quoine.