Canadian Crypto Exchange Bull Bitcoin To Use Blockstream’s Liquid Sidechain Tech By Early Next Year
Liquid Exchange Network, the second layer technology for Bitcoin that was created by Blockstream recently took on board a new cryptocurrency partner. The chain which is meant to facilitate faster bitcoin transactions now has a total membership of 30.
Some of the members include OKCoin, BITMex, Bitfinex, among several other exchanges. At the moment, there is a total of nine hundred thousand dollars that is being moved on this particular network. This according to a statement released to CoinDesk by Samson Mow, who is the Chief Strategy Officer at Blockstream.
Bull Bitcoin Joins the Platform
Bull Bitcoin exchange headquartered in Canada is the latest company to join the network. The two companies stated that their new partnership was meant to provide their clients with an opportunity to interact with other platforms and exchanges already operating on the network.
Scheduling details from the two partners indicate that this partnership is expected to go live at the start of next year. Francis Pouliot, the Bull Bitcoin CEO commented on this and stated that integrating Bull Bitcoin’s operations with those of Liquid Tech would be dependent on the input of the tech team.
He went on to add that they were trying to ensure that they had a backup layer in place. In trying to make sure that bitcoin is successful, the company has no choice but to fulfill its role in strengthening the network.
A part of the partnership agreement stated that Bull Bitcoin would be required to issue an asset of its own on the Liquid Network. The asset is pegged on the Canadian dollar and is referred to as L-CAD. The token will be used by platform users on the voucher provided by the exchange to purchase Bitcoin.
About Bull Bitcoin
Bull Bitcoin came about as a result of a merger between Bitcoin Brains and the Satoshi Portal. It works in the form of a fixed rate Bitcoin exchange that makes it possible for Canadians to spend, sell, and buy bitcoins online. It is primarily aimed at Canadian residents and was developed as an alternative to Coinbase and Bitpay centralized exchanges.