Blockchain, one of the world's largest digital currency wallet companies, announced on Tuesday the launch of a cryptocurrency exchange called The PIT that aims to execute trades in microseconds for retail and institutional investors. After extensive research and development over the span of a year, Blockchain said its "Mercury" matching engine delivers speeds a quantum faster than any other crypto exchange.
A stealth team inside the company composed of veterans from the New York Stock Exchange, TD Ameritrade, Google, Goldman Sachs, UBS, Interactive Brokers and Revolut built The PIT with the goal of executing trades at high speeds, Blockchain said in a statement.