Crypto Trading Platform Enclave Seeks to Encourage Safer Markets Through Dark Pools

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Dark pools come to crypto, with digital asset trading firm enclavemarkets launching a platform where traders can hide their orders and create a safer marketplace. mikeybellusci reports

“This is the first truly cryptographically provable, fair, and neutral marketplace,” Enclave CEO Daivd Wells told CoinDesk. As exchange operators, explained Wells, Enclave has no visibility into customer order flow prior to it hitting the order book. The platform also doesn’t doesn’t contain internal market makers or preferential access, he added.

Thanks to being a stablecoin-based product , Enclave Cross can operate in several jurisdictions without licensing, though the company is in the process of applying for licenses in instances where it’s needed. Enclave wants to use technology to solve the aforementioned trading issues, said Wells, and the growth of institutional interest in crypto has opened doors for this type of platform.

“Since all assets and trades are being held and executed off-chain, others in the marketplace will see only when funds are withdrawn from the platform, reducing the impact of a time mismatch of buyers and sellers,” Wells said in a statement Thursday.

 

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