Bitstamp has taken a different path to ensure it remains relevant in the cryptocurrency marketplace. The European cryptocurrency exchange operator has inked a partnership deal with Cinnober in its endeavor to enhance its in-house developed matching engine. The technology solutions provider for the finance industry will bring on board its TRADExpress Trading System.
The adoption of customized software by Bitstamp is a big milestone according to its CEO Nejc Kodrič. He says, “Our matching engine will be on par with traditional exchanges in both speed and throughput, once again placing Bitstamp on the technological frontier of crypto trading.”
The partnership deal with Cinnober will facilitate Bitstamp’s continued success
Bitstamp has quickly grown since its inception in 2011. It ranks 10 in the global cryptocurrency exchange list. Since then it has garnered over 28,000 active users and has made over $77 million in cryptocurrency trading volume. There are all indications that the exchange has been riding on success. It has global recognition of being one of the largest exchanges by trading volume.
The partnership deal with Cinnober with Bitstamp is a crucial step in bridging the gap between crypto and traditional finance. It will give Bitstamp new power of being able to expand its capacity as it seeks to meet the rising demands for access to cryptocurrencies. The CEO of Cinnober, Peter Lenardos is optimistic about Bitstamp’s desire to break the success ceiling. He says that the exchange has attained a position of trust in the digital currency within the trading community.
Cinnober’s matching system has a strong track record of success
Cinnober is equally strong in its record of success. Its trading system has global recognition, particularly within the financial marketplaces. Some of its clients include the Asia Pacific Exchange, and the Japan Exchange Group among others.
The implementation of the system will be in phases whereby the 1st take will place in the first quarter of 2019. The rollout of TRADExpress will help in attracting more of the emerging traders. Apparently, Nasdaq is reportedly trying to acquire Cinnober. The deal is not complete yet. However, there is a strong recommendation from the Cinnober’s board of directors into accepting the acquisition agreement.