Liquid, one of the largest cryptocurrency-fiat exchange platforms by trade volume in the world, is joining forces with Silvergate Bank, a Federal Reserve member bank based in California, in an effort to improve market access and to provide more trading opportunities for Liquid’s clients.
The integration between Liquid and Silvergate Exchange Network (SEN), Silvergate Bank’s internal settlement platform, has reached its completion. Liquid users that deposit and withdraw USD through SEN will have funds credited and available to be traded at Liquid Exchange near real-time, round the clock.
The deposit and withdrawal services are already live and ready to be used.
The integration of SEN will be a crucial part of Liquid’s Stablecoin Exchange Initiative. Clients can trade fiat and stablecoins, day and night.
The integration also speeds up the growth of Stablecoin initiative on Liquid by providing safer arbitrage opportunities and innovative market access.
Liquid has become increasingly accessible, providing instant settlement at any time of the day which enables the counterparties more opportunities to trade on Liquid during fast markets.
“By integrating with Silvergate Bank SEN network and enabling zero cost, instant deposits & withdrawals 24/7, Liquid is confirming our commitment to innovation and improving crypto market access for all market participants. With our innovative Multi-Market Order (MMO) technology, development of stablecoin and Digital FX trading, the past regional inefficiencies and price dislocations are quickly being replaced with deep liquidity and efficient price discovery. Liquid looks forward to further collaboration with Silvergate Bank to better serve the growing global crypto trading market,” said Seth Melamed, COO of Liquid.
Founded in 2014, Liquid is a top global fintech company with offices in Japan, Singapore, and Vietnam. It was the first exchange to be licensed by the Japan Financial Services Agency in 2017, and the exchange’s annual trading volume surpassed $60 billion in 2019.