Financial technology company BTSE, that utilises bitcoin and cryptocurrency technologies to develop real-world financial products and services, has unveiled an upgrade to its multi-currency order book with the addition of trading pairs, “fairer pricing” and savings on fees.
The company claims the multi-currency compatibility makes it the first cryptocurrency trading platform with an order book fully inclusive of crypto assets, fiat currencies and stablecoins.
“By having everything in one place, we want to create a liquidity haven for the digital asset trades where regardless of the popularity of their trading pair, every trader can see the same liquidity and experience fairer pricing,” says Jonathan Leong, CEO of BTSE.
The release will permit users to freely switch between quote currencies and trade all available trading pairs on the BTSE exchange, meaning users no longer have to pick a base currency upon sign-up. Traders will also be able to save on trading fees by side-stepping multiple transactions. Additionally, because they are no longer tied to just one currency, users can now trade crypto to crypto, crypto to fiat, and crypto to stablecoin on the same order book, resulting in heightened liquidity across the exchange, the firm says.
By combining the buy and sell orders for all trading pairs of each main market, BTSE also says it has reduced its number of order books to five – BTC, LTC, USDt, XMR and ETH – and says it has plans to add more altcoins in the coming months.