Bull Bitcoin Joins Blockstream’s Liquid Exchange Network
Liquid, a second layer tech for bitcoin created by Blockstream, just onboarded another crypto partner.
The sidechain for faster BTC payments now has around 30 members, including Bitfinex, BITMex, OKCoin, and other exchanges, with the total of $900,000 moving around on the network, Blockstream’s chief strategy officer Samson Mow told CoinDesk.
Now Canadian bitcoin exchange Bull Bitcoin is joining the platform. The new partnership will allow the users of Bull Bitcoin to interact with other exchanges on the network.
Tentatively scheduled on the early 2020, the integration of Liquid tech into Bull Bitcoin’s operations will require some effort from the exchange’s tech team, Bull Bitcoin CEO Francis Pouliot said.
“We’re making sure we have this backup layer. We want to make sure bitcoin succeeds, and this is our way to participate in strengthening the network,” Pouliot told CoinDesk.
As a part of the partnership, Bull Bitcoin is going to issue its own asset on the Liquid network: Canadian dollar-pegged token dubbed L-CAD, which is supposed to be used as the exchange’s voucher for buying bitcoin.
The popular inter-exchange settlement network, Liquid has collaborated with Canada-based bitcoin exchange, Bull Bitcoin turning its member score to nearly 30.
Based on the reports concerning the Bull Bitcoin partnership with Liquid Exchange Network, the investors using the Bull Bitcoin platform will now be open for interaction and communication with other popular exchange networks on Liquid’s sidechain.
The integration is tentatively scheduled to take place in the early phase of 2020. Bull Bitcoin CEO, Francis Pouliot stated that the collaboration would need some inputs from the technology arm of the exchange for the successful integration.