Users will be able to validate the company’s records and compare them to the bitcoin ledger.
UK-based bitcoin exchange Coinfloor has announced some new updates, including an over-the-counter (OTC) market for large, institutional bitcoin traders and a “proof of solvency” audit process, according to CoinDesk.
Part of the process will be making Coinfloor “publicly auditable”, that way users can validate the company’s records and compare them to the bitcoin ledger.
We’d love to be your preferred source for news.
Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!
“With a market cap greater than $5bn, but a 24-hour global trade volume of less than $100m, bitcoin markets need to make concerted efforts to facilitate a much higher level of liquidity in order for the currency to succeed,” CEO Mark Lamb said.
To date, Coinfloor is the only UK-based bitcoin exchange, although others are reported to be in development.
“What’s Hot” is aggregated content. PYMNTS.com claims no responsibility for the accuracy of the content published by the original source.
Add as Preferred Source
