Launch member of the Liquid Network and multi-currency futures exchange BTSE now offers support for two of the sidechain’s most notable assets, Liquid Bitcoin (L-BTC) and Liquid USDt.
Samson Mow, CSO of Blockstream stated on the launch that “We’re very excited that Liquid Bitcoin and USDt are available on BTSE. With BTSE’s integration, we now have a corridor between Bitfinex and another large cryptocurrency exchange with billions in monthly trading volume – this is very good for traders looking for arbitrage opportunities.”
With L-BTC, users circumvent the need to deal with unpredictable confirmation times of the Bitcoin blockchain. As the protocol relies on a federation of signers to submit valid blocks, each can be generated at 1-minute intervals (Bitcoin, by contrast, only appends a new block approximately every 10 minutes), allowing for faster settlement between wallets, exchanges, and businesses.
As for USDt, which has been running on the Omni Layer since 2014, its migration to the Liquid Network offers a number of performance improvements like L-BTC, settlement takes place in a fraction of the time, there is native support for privacy-enhancing Confidential Transactions, and the Liquid Swap Tool enables users to trustlessly exchange assets on the network.
Users of BTSE are now able to deposit and withdraw Liquid USDt and L-BTC seamlessly on the exchange. Once deposited, BTSE handles the funds as it would those from the Omni or ERC-20 layers. With a transaction finality time of approximately two minutes, the Liquid Network enables BTSE users to rapidly move funds to and from the platform in order to rapidly seize trading opportunities.
Jonathan Leong, CEO of BTSE said that “By integrating Liquid Bitcoin and Liquid USDt, we open a new gateway for customers on other Liquid Network member exchanges to easily send their funds to BTSE and take advantage of our products and features. Liquid has a massive potential to become the preferred option for traders to move funds quickly and confidentially, which is why, as an early member, we actively support the network’s development and growth.”
BTSE is among the first to implement support for both Liquid USDt and L-BTC supporting the growing Liquid ecosystem of Bitcoin’s most promising sidechain.