The Bitfinex exchange has announced that it has listed the LEO token on BTSE with a cross-listing feature for BTSE and UNUS SED LEO to allow users to exchange the token between the two platforms, simplifying trading activities.
LEO, launched by Bitfinex about a year ago, was created to allow token holders to easily convert cryptocurrencies on Bitfinex and then use it as a bridge for Ethereum and EOS protocols, since LEO is based on both platforms, somewhat like Tether.
The BTSE token, by the way, was born using the Liquid blockchain, which is a bitcoin sidechain, and allows confidential transactions.
The CEO of BTSE, Jonathan Leon, pointed out that the LEO token is very useful:
“Exchange tokens like Bitfinex’s UNUS SED LEO provide a lot of utilities for traders and we are happy to be bringing additional accessibility to it as users can now buy, sell and trade LEO with a large selection of fiat currencies, crypto assets and stablecoins through our All-In-One Order Book”.
Paolo Ardoino himself, CTO of Bitfinex, sees this cross-listing as something positive for both LEO and BTSE:
“LEO is quietly growing in strength as a major cryptocurrency and valuable source of liquidity on the Bitfinex platform. The cross-listing on the BTSE platform furthers the advance of LEO, making it available to the financial technology exchange’s user base. We are also happy to make the BTSE token available on the Bitfinex platform”.
Both tokens allow performing different functions ranging from simply reducing fees on the two exchanges to obtaining facilitated services for traders.
The two platforms have been partners of Liquid Network since 2018, continuing the collaboration between the exchanges to improve the network and prevent congestion – for instance, we remember the various cases related to bitcoin in which, as the price of the asset, and therefore the trading, increased, the exchanges were not able to bear the load and went offline.
In this post-Covid-19 situation, where most users have returned to moving around, it is important to have effective tools to move quickly, something that this collaboration between Bitfinex and BTSE can guarantee.
Among other things, users who want to use BTSE or Bitfinex will not have to undergo the KYC (Know Your Customer) and AML (Anti Money Laundering) procedures because the two platforms will share data.