Cryptocurrency exchange platform Liquid announced on Sunday it is working with Silvergate Bank to support instant USD settlement on an internal settlement platform, the Silvergate Exchange Network (SEN). Liquid reported it has completed integration with SEN that will allow Liquid users to deposit and withdraw USD and will have funds credited, as well as available for trading at Liquid Exchange near real-time.
“Integration of SEN will be key to Liquid’s Stablecoin Exchange Initiative. Clients will be able to trade fiat and stablecoins 24/7. Some of the ways in which SEN integration will help accelerate the growth of Stablecoin initiative on Liquid will be risk-free arbitrage opportunities and state-of-the-art market access. Liquid is more accessible than ever. Instant settlement 24/7 provides counterparties with more opportunities to trade on Liquid during fast markets.”
Speaking about the integration, Seth Melamed, Chief Operations Officer of Liquid, stated:
“With our innovative Multi-Market Order (MMO) technology, development of stablecoin and Digital FX trading, the past regional inefficiencies and price dislocations are quickly being replaced with deep liquidity and efficient price discovery. Liquid looks forward to further collaboration with Silvergate Bank to better serve the growing global crypto trading market.”
Liquid then added that the automation is already live for deposit and withdrawal services.