Blockchain, provider of cryptocurrency wallet, has eventually announced its own cryptocurrency exchange. The notice was made on the company's Twitter on July 30.
The company wrote on Twitter:
"The secret is finally out we’re launching The PIT, the fastest crypto exchange in the world "
The registration on the new platform called PIT is expected to be opened today. The company describes it as the fastest trading platform in the world now, which may enable users to enjoy almost instant transactions.
"We’re the only crypto exchange to measure latency in microseconds...," as the notice stated.
According to the available information, PIT will support about 26 cryptocurrencies, which will be added within two weeks.
In addition, users can connect their non-custodial wallet to the PIT.
The new platform is said to bring the liquidity that cannot be offered by other exchanges. This may be provided by a huge number of registered Blockchain wallets (over 40 million).
Speaking about the competition, PIT can become a strong rival to existing market behemoths like Binance and Coinbase. The competitive advantage is likely to come from fast cooperation with customers. In particular, the customer support department has become the second-largest arm of the company once it switched to exchange business.
Blockchain management also noted that they have filed applications for licenses in the jurisdictions where it is required by the regulation. The company ensured that the platform will start operations only after the green light from the regulators.