Blockchain dot com opens a UK based crypto exchange

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Blockchain dot com, a crypto currency wallet provider, which has created over 40 million wallets, supporting bitcoin, Bitcoin Cash, and Ethereum is about to open a London based crypto exchange, where initially customers will be able to trade with Bitcoin, Ethereum, Bitcoin Cash, Tether, Litecoin and Paxos.

Customers can already deposit their funds at ‘The Pit’, as the new exchange is called, and trading is expected to begin soon.

Blockchain dot com CEO Peter Smith, quoted by Bloomberg notes that The Pit will execute orders in under 50 microseconds, compared to 200 to 500 milliseconds at most crypto exchanges.

Blockchain dot com will encourage customers to keep their digital assets in their wallets rather than on the exchange, Smith also is quoted to say.

Source