Bitcoin Cash to be Base Pair in New Exchange
The Roger Ver-backed Bitcoin.com is launching a digital asset exchange, and it’s taking an unorthodox approach. Announced via a Roger Ver-hosted video posted to the firm’s Youtube channel, the firm behind the popular domain will be launching a trading platform with Bitcoin Cash (BCH) as the leading base pair. This means that all other assets that will be supported, the prominent and controversial cryptocurrency evangelist mentioned Ethereum and Litecoin, will trade against Bitcoin Cash, not against Bitcoin.
The details are currently a bit scant about this venture. But, Ver stated that the platform could launch next month (September) and may support fiat transfers, depending on regulation.
When the exchange launches, it will join Bitcoin.com’s vast array of products, which includes a news portal, marketplace, mining pool, and gambling portal.
Crypto Firms Growing
Bitcoin.com’s move to launch an exchange is a clear sign that industry startups are looking to bolster their product rosters in anticipation of the next cryptocurrency bull run. As reported by Ethereum World News previously, massive wallet provider Blockchain.com, presumably leveraging an acquisition of RTBTC, launched its own cryptocurrency exchange. Called “The PIT”, this new exchange promises to be much faster than Coinbase and other competitors and more liquid than similar platforms. The firm wrote in their Tuesday announcement:
“We built an all-star team of veterans from NYSE, TD Ameritrade, Google, Goldman Sachs, UBS, Interactive Brokers, and Revolut, to build it from the ground-up […] And what we delivered is not only the fastest in crypto by an order of magnitude – we measure in microseconds, not milliseconds – but a matching engine that could go head-to-head against any machine engine in the entire world.”
Also, Kraken has made a large acquisition, picking up Interchange. Interchange is an accounting and reporting service for institutions with operations in the cryptocurrency market, meaning that this purchase is one of Kraken’s latest attempts to make a splash in the institutional side of the industry. This transaction sees Kraken acquihire Interchange’s co-founders, Dan Held and Clark Moody. Bitcoin pioneer Held formerly worked as the director of product at Blockchain.com and as an employee at Uber.
Many crypto startups have also bagged a number of large partnerships and investments, showing that investors and corporations alike are beginning to see the potential of this industry.
Photo by Austin Distel on Unsplash