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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.
Institutional crypto exchange LGO has joined up with transaction platform Fireblocks to speed up deposit times and enhance clients' trading experience.
STORY CONTINUES BELOW
- 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.
See also: Elliptic Teams With Fireblocks to Automate Security and Compliance in Crypto Industry
Sebastian Sinclair
Sebastian Sinclair is the market and news reporter for CoinDesk operating in the South East Asia timezone. He has experience trading in the cryptocurrency markets, providing technical analysis and covering news developments affecting the movements on bitcoin and the industry as a whole. He currently holds no cryptocurrencies.
