Bitfinex has introduced Ethfinex Trustless, which is aimed at providing its customers with better security and privacy standards, and allow them to manage their assets in an easier way. This signifies the start of something the cryptoexchange hopes will become a trading model entirely decentralized.
The network utilizes Ethfinex, which provides the customers with complete control of their assets all over the trading process by connecting both centralized and off-chain order books.
The newly introduced hybrid cryptoexchange offers a liquid order book placed off the chain and not requiring customers to give up the custody of the digital assets or encounter delays of withdrawal or deposit. The exchange places no signup or Know Your Customer demands on the users, facilitating the anonymity of transactions.
Customers are needed to possess at least 1 Ethfinex Nectar token in their ETH wallet. Traders are supplied with the dedicated currency on a monthly basis. Initially, the trading pairs will include Ether, Tether, OmiseGO and 0x digital currencies, further followed up by no less than 40 other tokens.
According to Bitfinex, their new hybrid cryptoexchange will take the security, anonymity and liquidity standards to a new level when it comes to cryptotrading.