Tagomi Introduces Bitcoin & Ether Lending, Borrowing Facility September 14, 2019 September 14, 2019 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Bitcoin NewsSeptember 14, 2019 by Kelly Cromley

Tagomi Introduces Bitcoin & Ether Lending, Borrowing Facility

Tagomi, a cryptocurrency brokerage firm headquartered in New York, is permitting users to borrow and lend Bitcoin (BTC) and Ether (ETH), thereby making it easy to open both long and short trades in the market.

The exchange intends to facilitate shorting by providing quick connectivity to several counterparties through a single platform.

In order to short crypto assets, currently traders have to “call a host of brokers and trading desks to find the best rates for borrowing and risk the market moving against them during the time it takes to put on a trade.”

Tagomi’s chief operating officer Kevin Johnson explained the limitations of applying aforementioned strategies to cryptocurrencies.

“In other asset classes this would be done with one click, but in crypto it’s very long and tedious to try and put a short on.”

Pantera Capital’s director of trading, Dennis Chou, has stated that traders must certainly be provided with the facility and resources to go short.

Furthermore, Chou pointed out that Bitcoin borrowing facility is usefule not only to speculators who want to bet against the crypto but also to those who intend to apply quantitative strategies, hedging and relative-value trades.

He said

“The crypto space is volatile, so if you can’t short, you’re missing part of the puzzle.”

Notably, by March end, Tagomi received BitLicense from the New York State Department of Financial Services.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.