Cinnober Enhances Cryptocurrency Trading Solution
Cinnober, a global independent provider of exchange and clearing technology, has announced an agreement with GAP600, a pioneer in cryptocurrency payment enablement, to make their instant cryptocurrency transactions functionality available as an add-on service to Cinnober’s cryptocurrency exchange offering.
“GAP600’s instant confirmation service removes the lag time associated with cryptocurrency deposit transactions between users and exchanges,” says Eric Wall, Cryptocurrency and Blockchain Lead at Cinnober. “Such transactions can take 60 minutes or more until they are visible in the user’s trading account. Due to the volatility in the cryptocurrency markets, the value of the assets can change significantly during this time. This problem is removed with GAP600’s service.”
“The cooperation with GAP600 strengthens our cryptocurrency offering further, delivering additional benefits to clients” says Peter K. Lenardos, CEO of Cinnober Group. “The current lag time for transactions over the blockchain is a major pain point for those trading cryptocurrencies. Being able to offer instant transaction functionality will help our clients improve their competitive advantage in the cryptocurrency exchange space.”
GAP600 facilitates instant, risk-mitigated cryptocurrency commerce by enabling exchanges to recognize unconfirmed Bitcoin and Bitcoin Cash transactions as final. This is made possible by GAP600’s proprietary risk engine, which analyzes and performs live risk scoring for each transaction as it reaches the so-called memory pool. In addition, GAP600 is re-insured by an underwriter. This enables the company to guarantee cryptocurrency payments before they reach the blockchain.
“GAP600 is easily integrated, which means the instant payment transaction functionality is ready to go live on the Cinnober platform, offered as a value-added feature to Cinnober customers,” explains GAP600’s co-founder and CEO, Daniel Lipshitz. “Offering this functionality will significantly improve the cryptocurrency exchange value proposition.”
Cinnober serves leading financial marketplaces globally with robust and proven multi-asset class solutions. Cinnober’s cryptocurrency offering provides a reliable and high-performance cryptocurrency trading solution that can handle increasing market volumes, expectations from institutional investors and requirements from regulators. Through partnerships with BitGo, provider of custodial services, and Irisium, market surveillance technology, Cinnober provides an end-to-end secure, institutional-grade digital asset exchange solution.
Radkl’s initial focus will be quantitative trading across digital assets.
Jump Trading is undergoing its next evolution with the rise of open protocols and DeFI.
Clients can trade crypto plus stocks, options, futures, bonds, mutual funds and ETFs from a single screen.
BH Digital will be led by Colleen Sullivan, CEO and co-founder of CMT Digital.
SEC chair will testify before Senate Committee on Banking, Housing, and Urban Affairs.