A startup from Silicon valley will allow traders to trade on multiple exchanges

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The crypto market is full of exchanges and OTC trading platforms, but they all work in isolation. This is especially inconvenient when working with large amounts of money. Cryptocurrency trading platform Sfox created in Silicon valley aimed at solving this problem, and its developers have proposed an original alternative to large investors.

Based in Silicon valley, Sfox has received funding of $23 million from the Tribe Capital and Social Capital. Among other investors Khosla Ventures, Y Combinator, Capital Blockchain and Digital Currency Group. According to Forbes, their contribution currently estimated at $15 million.

Features of the new platform

However, the feature of this platform is that Sfox will use a new technology that allows traders to open a trading order on one exchange and terminate in another or in several markets. Akbar thobhani, CEO Sfox, told Forbes that their platform is associated with many cryptobinary. The technology uses “intelligent routing”, which explores the best prices on buying and selling on most kryptomere. Platform developers claim that this algorithm will increase the profit by 2.5% compared to the average market price, which was proven during the testing phase. This will allow investors more profitable to buy and sell assets, and the company will get their profit by charging a fee in the amount of 0,25-0,75%.

A large order can have a significant impact on the market if the trade is conducted on one exchange — often this means a sharp drop in prices. Hidden orders, we offer Sfox, will allow to solve this problem, keeping the deal secret until it is done.

The company hopes to make digital assets more lucrative and easy, and at this stage working on obtaining permits from the regulatory authorities of several U.S. States.

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Tags: Sfox

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