LuneX Backed Sparrow Launches Crypto Trading Platform

LuneX Backed Sparrow Launches Crypto Trading Platform

by June 11, 2019
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Fresh out of Beta, Sparrow, a Singapore-based options trading platform has launched a platform for Bitcoin and Ethereum options trading which are settled by smart contract.

The company is backed by LuneX Ventures a crypto and blockchain dedicated VC fund set up in partnership with Golden Gate Ventures. It is also backed by the likes of Signum Capital and QCP Capital

The startup hopes that verifiable and transparent operations offered by the smart contracts could help mitigate risk dealing with famously volatile digital assets.

Sparrow Options are settled on Ethereum smart contracts and deployed onto a Proof of Authority chain called Nidus. Through a hybrid off-chain on-chain approach, trading should be seamless with an updated order book that should be more responsive, coupled with higher transparency and automated settlement of digital asset options.

Kenneth Yeo, CEO of Sparrow, claims that Sparrow options are more liquid that OTC (over-the-counter) options, and more customizable than standardised contracts.

Sparrow’s trading platform claims to be full-featured and liquid, allowing users to trade customised European options without counterparty risk (thanks to smart contracts).

 

Featured image via Sparrow

 

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  1. Wilbur
    #1 Wilbur 18 June, 2019, 17:58

    Is Sparrow a scam?

  2. #2 Why people should use Sparrow 19 June, 2019, 22:48

    […] Fintech News: LuneX Backed Sparrow Launches Crypto Trading Platform  […]

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