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Nash announce launch of Bitcoin trading for all users during Q1 quarterly report

On April 24th, Nash conducted its quarterly report for Q1 2020 via a video call. The event was attended by co-founders Fabio Canesin, Ethan Fast, Thomas Saunders, Fabian Wahle, and Luciano Engel, who each gave a presentation on various facets of the company. During the event, the Nash team highlighted progress across applied research, security and DevOps, payments and mobile, design and UX, and marketing and communication.

Bitcoin trading

After launching non-custodial Bitcoin trading to Tier 2 users earlier in the week, Saunders announced the opening of Bitcoin trading to all users of the Nash platform. Further, Nash had reported that market maker and liquidity providers have been running their bots on BTC/USDC markets and ETH/BTC market smoothly. Saunders reflected:

“A lot of work has gone in to get to this point, and it’s taken a long time because we did not take a lot of the easy solutions we could have taken. One of the first things we looked into when we wanted to do non-custodial Bitcoin trading was kind of a wrapped Bitcoin that’s traded on an ETH chain or a NEO chain. Due to true custody issues, we decided that wasn’t the way. And then atomic swaps also have an issue with [being] incompatible with the kind of centralized exchange experience that we want to provide our users. So we ended up building a state channel-like protocol for trading Bitcoin, and we believe it’s a pretty awesome solution to deliver to our users.”

Given the complexity of the state channels for Bitcoin and Nash’s desire to ensure the safety of user funds, users are currently limited to deposits of up to one BTC. Saunders said, “once we’ve monitored the system, we’ll be able to remove those restrictions and have unrestricted Bitcoin trading in a decentralized way for everyone.”

Mobile app and fiat ramp

Wahle offered a brief update on the mobile application, fiat ramps, and Nash Pay.

On Friday, April 24th, Nash...

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