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Crypto Exchange LGO Integrates With Fireblocks to Speed Up Trading Times

LGO says its partnership with Fireblocks will speed up slow deposit times – an opportunity cost for crypto exchange users.

By Sebastian Sinclair
AccessTimeIconAug 18, 2020 at 1:12 p.m. UTC
Updated Sep 14, 2021 at 9:45 a.m. UTC
Hugo Renaudin, CEO of LGO Markets. (Anna Baydakova/CoinDesk)

Hugo Renaudin, CEO of LGO Markets. (Anna Baydakova/CoinDesk)

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Institutional crypto exchange LGO has joined up with transaction platform Fireblocks to speed up deposit times and enhance clients' trading experience.

  • LGO announced Tuesday it had joined Fireblocks' Deposit Acceleration Program.
  • Crypto exchanges have to load digital assets onto the platform before they begin trading: a process that can take anywhere between 10 minutes to 24 hours to complete, depending on network congestion and how quickly miners confirm transactions.
  • This has a clear opportunity cost as traders can't exploit fleeting arbitrage chances or liquidity margins.
  • As the name suggests, Fireblocks' Deposit Acceleration Program speeds up the process, allowing exchanges to load assets onto their platforms in real time.
  • LGO CEO and co-founder Hugo Renaudin said the program was a way for institutional clients to better position their trading capital efficiently and securely.
  • Crypto derivatives exchange FTX joined the program as soon as it launched last month.

See also: Elliptic Teams With Fireblocks to Automate Security and Compliance in Crypto Industry

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