{"id":6906,"date":"2019-07-30T17:10:36","date_gmt":"2019-07-30T14:10:36","guid":{"rendered":"https:\/\/forklog.media\/?p=6906"},"modified":"2019-08-01T16:46:26","modified_gmt":"2019-08-01T13:46:26","slug":"the-company-behind-popular-bitcoin-wallet-launches-worlds-fastest-crypto-exchange","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/the-company-behind-popular-bitcoin-wallet-launches-worlds-fastest-crypto-exchange\/","title":{"rendered":"The Company Behind Popular Bitcoin Wallet Launches World\u2019s \u2018Fastest Crypto Exchange\u2019"},"content":{"rendered":"<p>Blockchain, provider of the leading Bitcoin wallet, has announced the launch of its own crypto exchange. Dubbed The PIT, the new platform is said to be \u201cthe fastest crypto exchange in the world.\u201d<!--more--><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">1\/ The secret is finally out ?we\u2019re launching The PIT, the fastest crypto exchange in the world (come find us at <a href=\"https:\/\/t.co\/egT1Ca3BfU\">https:\/\/t.co\/egT1Ca3BfU<\/a> or <a href=\"https:\/\/twitter.com\/BlockchainPit?ref_src=twsrc%5Etfw\">@BlockchainPIT<\/a> on Twitter and Instagram) <a href=\"https:\/\/t.co\/EObq2CmSgP\">pic.twitter.com\/EObq2CmSgP<\/a><\/p>\n<p>\u2014 Blockchain (@blockchain) <a href=\"https:\/\/twitter.com\/blockchain\/status\/1156162608032096257?ref_src=twsrc%5Etfw\">July 30, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Formerly known as Blockchain(.)info, Blockchain(.)com was founded in 2011 to initially serve as a Bitcoin block explorer. To date, the firm has been a provider for one of the most popular crypto wallets with over 40 million registered wallets. The company raised a total of $70 million from investors including British billionaire Richard Branson, Alphabet venture arm GV and early Spotify backer, Lakestar.<\/p>\n<p>According to the announcement, The PIT is the result of a behind-the-scenes effort led by a team of former executives from the New York Stock Exchange, TD Ameritrade, Google and Goldman Sachs.<\/p>\n<p>The exchange will be available in more than 200 countries, initially supporting 26 trading pairs. Customers will be reportedly able to link their bank account with an account at Blockchain.com and trade crypto against three major fiat currencies, including U.S. Dollar (USD), the Euro (EUR) and British pound (GBP).<\/p>\n<p>The platform\u2019s matching engine Mercury can execute buy or sell orders in \u201c40 to 50 microseconds,\u201d an \u201corder of magnitude faster than other market players\u201d like Coinbase and Binance, said Peter Smith, Chief Executive Officer of Blockchain.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-6907\" src=\"https:\/\/forklog.com\/en\/wp-content\/uploads\/2019\/07\/106047617-1564479962145thepit-dashboard.jpg\" alt=\"The Company Behind Popular Bitcoin Wallet Launches World\u2019s \u2018Fastest Crypto Exchange\u2019\" width=\"740\" height=\"416\" srcset=\"https:\/\/forklog.com\/en\/wp-content\/uploads\/2019\/07\/106047617-1564479962145thepit-dashboard.jpg 740w, https:\/\/forklog.com\/en\/wp-content\/uploads\/2019\/07\/106047617-1564479962145thepit-dashboard-300x169.jpg 300w, https:\/\/forklog.com\/en\/wp-content\/uploads\/2019\/07\/106047617-1564479962145thepit-dashboard-470x264.jpg 470w\" sizes=\"auto, (max-width: 740px) 100vw, 740px\" \/><\/p>\n<p>Having enjoyed popularity with bitcoin enthusiasts \u2014 Blockchain claims to account for about 25% of daily activity on the bitcoin network \u2014 the company is hoping its exchange platform will help lure in the uninitiated.<\/p>\n<blockquote><p><strong>\u201cThere\u2019s a huge audience of people who have not yet placed their first bitcoin trade,\u201d <\/strong>Nicole Sherrod, head of trading products at Blockchain, told <a href=\"https:\/\/www.cnbc.com\/2019\/07\/30\/bitcoin-blockchain-launches-crypto-exchange-to-take-on-coinbase.html\">CNBC<\/a>. <strong>Sherrod previously led the active trading product team at online stock broker TD Ameritrade before joining Blockchain.<\/strong><\/p><\/blockquote>\n<p>Sherrod said the new trading platform would give investors a degree of liquidity not seen in competitor exchanges.<\/p>\n<blockquote><p><strong>\u201cIn volatile markets in particular, speed is of utmost importance,\u201d <\/strong>she added. <strong>\u201cI would not feel comfortable delivering a platform to retail investors that puts them in a position where they couldn\u2019t get in and out of a trade with lightning-fast speed.\u201d<\/strong><\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Blockchain, provider of the leading Bitcoin wallet, has announced the launch of its own crypto exchange. Dubbed The PIT, the new platform is said to be \u201cthe fastest crypto exchange in the world.\u201d<\/p>\n","protected":false},"author":1,"featured_media":6919,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"human_written","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[996,48,995,436],"class_list":["post-6906","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-blockchain-com","tag-exchanges","tag-the-pit","tag-trading"],"aioseo_notices":[],"amp_enabled":true,"views":"1078","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/6906","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=6906"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/6906\/revisions"}],"predecessor-version":[{"id":6908,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/6906\/revisions\/6908"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/6919"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=6906"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=6906"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=6906"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}