While Binance’s DEX has been the darling of the media lately, Singapore-based KuCoin recently announced the addition of non-custodial trading to the exchange through a partnership with Boston-based startup Arwen.
KuCoin Partners with Arwen to Bring a Non-Custodial Trading Solution to Experienced KuCoin users
Today, KuCoin is thrilled to announce that Arwen, in beta, is now live on KuCoin.
— KuCoin Updates (@KuCoinUpdates) April 16, 2019
According to the announcement, users will be able to protect their coins in on-chain escrows, allowing for instant trading across coin pairs through cross-chain atomic swaps. This essentially offers decentralized trading functionality that allows investors to keep control of their assets while leveraging the trading liquidity found on KuCoin.
“Arwen facilitates secure trading through self-custody,” reads the announcement. “Rather than depositing coins in the exchange, users will rely on the security of the coin’s blockchain itself. Security for trading BTC is provided by the Bitcoin blockchain, while security for trading BCH is provided by the Bitcoin Cash blockchain, etc. With Arwen, there is no need to trust a completely new blockchain.”
The functionality is currently in beta, allowing users to trade Bitcoin (BTC), Bitcoin Cash (BCH) and Litecoin (LTC). Those interested in simply trying Arwen can do so via the testnet version, as well.
KCS is currently up 4.4% on the day to $1.29, giving the exchange token a $115.5 million market cap.
More: KuCoin Partners with Arwen to Bring a Non-Custodial Trading Solution to Experienced KuCoin users
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Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.