Bitcoin wallet and blockchain explorer provider Blockchain has just launched its first crypto exchange platform which will help in connecting the exchange called PIT to non-custodial Blockchain wallets for nearly instant transfers.
Blockchain’s head of retail products, TD Ameritrade alum Nicole Sherrod said, “With nearly 40 million wallets already created and an exchange matching-engine set up in London’s Equinix LD4 data center, PIT could be posed to attract more liquidity than competitors. That’s what market makers are looking for. They want to co-locate [data center servers] with you, they want to directly connect to your matching engine. It’s the way it’s done on Wall Street.
Sherrod added that the exchange will fathom speed in “microseconds,” similar to conventional traditional asset exchanges. However, an industry expert has shown a concern if the theoretical speed would remain same having real pressures.
The wallet is also prioritizing diverse token offerings over margin trading options and the bitcoin software update SegWit, both of which are also on the road map.
“Beyond the 26 [assets] we already know what our phase two asset listings are going to be, as well as phase three,” Sherrod said.
It is going to be interesting to witness how the exchange will stand hold while competing with mainstream exchanges such as Binance and Coinbase.
“We’re looking to compete on the overall client experience,” Sherrod said, adding that a new customer support team has become the second-largest division of the company as part of a broader shift to exchange services.