Exchanges
In this edition of Exchanges Roundup, we look at a Luno executive’s belief that the South African government will introduce “open” crypto regulations. We also focus on Bitstamp, which expects a 1250x increase in matching speed after it integrates a customized version of Cinnober’s trading engine software into its platform, as well as the motivation behind a Dutch exchange’s decision to advertise on a bus.
Also Read: GMO Internet Sees Huge Leap in BCH Mining for October
Consumer Protection
In a recent interview, Marius Reitz, Luno’s South Africa country manager, said he expects the South African government to pass “open” regulations on the development of consumer protection protocols.
“I think the regulation will be relatively open. I don’t see regulators trying to stifle innovation,” Reitz told Mybroadband. “I think they will focus on the consumer protection side, making it mandatory for exchanges to register as reporting entities.”
Bitstamp Expects 1250X Speed Increase
Bitstamp has revealed a new partnership with Cinnober, a trading and financial technology provider. The exchange plans to replace its in-house matching engine with a licensed and customized version of Cinnober’s “Tradexpress Trading Engine” software.
“While Bitstamp’s matching engine was already very good by crypto standards, this will put us in the same league as traditional exchanges with decades of experience,” stated David Osonjik, the chief technology officer of Bitstamp.
Osonjik said that he expects Bitstamp’s order-to-matching speed to increase by a factor of 1250. He added that throughput will likely increase by a factor of 400.
Dutch Exchange Turns to
Bus-Based Advertising
The advertising blockade by leading social media platforms has in some cases driven cryptocurrency companies to seek out increasingly creative means through which to advertise their products and services. In recent months, Dutch exchange Satos has ventured into the realm of offline advertising, choosing to promote its platform on a bus.
Stijn Jager, marketing manager at Satos, stated that “the idea of out-of-house marketing first came to us when most advertising platforms turned their back on cryptocurrencies.” He noted that the “extremely targeted” platforms offered by Google and Facebook used to be the company’s primary means of communicating with its target audience.
Jager said the significant coverage and hype surrounding cryptocurrency during the 2017 bull run solidified the company’s decision to advertise to a broader audience amid the advertising crackdown. “(When) BTC became the talk at any office, everyone — literally everyone — was our target audience,” he explained.
Jager said Satos is “very happy with the reach and attention” that the bus campaign has generated. “Advertising on buses is pretty new. With this campaign, we prioritized impact over gross reach,” he added. “We’d rather reach 20 people who take a picture of the bus and share it with friends, than of reaching 200 people who simply pass by the ad.”
Do you think that offline advertising will become commonplace among cryptocurrency companies in the coming years? Share your thoughts in the comments section below!
Images courtesy of Shutterstock
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