Crypto Exchange LGO Integrates With Fireblocks to Speed Up Trading Times
LGO says its partnership with Fireblocks will speed up slow deposit times – an opportunity cost for crypto exchange users.
Aug 18, 2020 at 1:12 p.m. UTCUpdated Aug 19, 2021 at 3:46 a.m. UTC
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Institutional crypto exchange LGO has joined up with transaction platform Fireblocks to speed up deposit times and enhance clients' trading experience.
- LGO announced Tuesday it had joined Fireblocks' Deposit Acceleration Program.
- Crypto exchanges have to load digital assets onto the platform before they begin trading: a process that can take anywhere between 10 minutes to 24 hours to complete, depending on network congestion and how quickly miners confirm transactions.
- This has a clear opportunity cost as traders can't exploit fleeting arbitrage chances or liquidity margins.
- As the name suggests, Fireblocks' Deposit Acceleration Program speeds up the process, allowing exchanges to load assets onto their platforms in real time.
- LGO CEO and co-founder Hugo Renaudin said the program was a way for institutional clients to better position their trading capital efficiently and securely.
- Crypto derivatives exchange FTX joined the program as soon as it launched last month.
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