A cryptocurrency exchange has introduced a new colocation service aimed at clients and partners seeking ultra-fast execution capabilities. This initiative is designed to enhance trading performance, scalability, and ensure fair and transparent access to a wide range of global cryptocurrency markets.
The exchange has also received approval from the UK’s Financial Conduct Authority for an Electronic Money Institution (EMI) license. This new license facilitates the issuance of electronic money and streamlines deposit and withdrawal processes for clients in the UK, allowing for quicker transactions.
To further enhance trading services, the exchange is collaborating with Beeks, a firm specializing in low-latency solutions. With this partnership, the exchange will enable ultra-low latency trading from its European data center later this year. Clients can access cloud computing services through Beeks or opt to physically place their hardware within the exchange’s data center for direct colocation services.
The integration of Beeks’ technology is expected to provide significant benefits, including quicker price discovery, more efficient trading, and increased liquidity for both spot and derivative markets offered by the exchange.
Traders will be able to trade over 300 digital assets alongside six national currencies: GBP, EUR, USD, CAD, CHF, and AUD. As part of the colocation services, clients leveraging Beeks Exchange Cloud can expect exceptionally low latency, particularly in locations like London, where sub-millisecond latency will be achievable.
In a related development, the US Securities and Exchange Commission has agreed to dismiss a civil lawsuit charging the exchange with operating as an unregistered securities exchange. This dismissal is with prejudice, meaning that the case cannot be refiled and comes without penalties or any admission of wrongdoing by the exchange. This transition aligns with changes in the US regulatory landscape concerning cryptocurrencies and allows the exchange to reinstate on-chain staking services for its US customers. The exchange views this as a significant turning point for the industry.