Quione Looks to Boost Crypto Liquidity With New Trading Platform

Cryptocurrency exchange startup Quione has launched a new trading platform that it says will bring much needed liquidity to the crypto markets.

Called Liquid, the new service is a cryptocurrency trading "Portal" that provides users with access to what it claims in a press release is "a worldwide network of cryptocurrency exchanges."

With a lack of liquidity having "Hampered the development of the cryptocurrency markets," Liquid argued that its new product could help usher in greater stability.

From launch, Liquid will allow users to match trades across "Multiple transactions and cryptocurrencies" - that is, make cross cryptocurrency conversions, as well as convert from the Singapore dollar.

The firm says, as an example, orders of BTC/SGD, ETH/SGD and BTC/ETH could be matched together.

This aggregates orders and prices on different exchanges into a single order book and allows orders to be placed in the currency of choice, Quoine said.

When an order is placed, they will see their order enter the BTC/EUR market, with the order's price also being reflected in their orderbook in EUR. If the trader's order to, say, sell BTC/EUR is matched with an order to buy BTC/SGD, "An FX conversion happens behind the scenes." After the trade, both parties receive their funds in their chosen order currencies.

"Cryptocurrency markets need stability. This year, the 30 day BTC/USD volatility index has been above 3 percent for almost the entire year, with highs topping 8 percent at the start of the year. Liquid is paving the way to a less volatile future by improving liquidity within the cryptocurrency ecosystem,."

Quoine operates cryptocurrency exchange businesses, and was licensed by Japan's financial watchdog, the Financial Service Authority, for its operations in the country back in September 2017.

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