Businesses and market makers now have access to margin and shorting, as well as the ability to minimize capital held on a bitcoin exchange
NEW YORK, NY (January 12, 2015) – Coinsetter, the Wall Street institutional-level bitcoin exchange, today announced it will begin offering margin trading and post-trade settlement to select business customers. Post-trade settlement allows customers to place trades on Coinsetter’s order book before making a deposit. This structure allows customers to trade without holding large balances on an exchange, limiting their exposure to third-party risks. In addition, the new program allows market makers to short bitcoin on Coinsetter’s exchange. In the aftermath of security breaches that weaken the infrastructure of the bitcoin market, New York City-based Coinsetter is introducing a new way to mitigate risks for well-capitalized businesses–a group that represents the majority of capital holdings on bitcoin exchanges. After depositing collateral in the form of bitcoin, Coinsetter will allow select businesses to buy and sell bitcoin on margin, settling balances after trades are executed. This model is aligned with the settlement method of exchanges in other markets on Wall Street. Jaron Lukasiewicz, CEO of Coinsetter, said: “We have been testing a post-trade settlement offering with select business customers since December, and its value is apparent. Coinsetter’s business customers, many of whom represent important institutions in the bitcoin space, can now access liquidity without having to worry about bitcoins being hacked or USD holdings becoming tied up. The program also helps growing companies reduce their working capital burdens.” In addition to post-trade settlement for businesses, Coinsetter’s designated market makers will now be able to take short positions on bitcoin. These additions expand upon an already robust feature lineup for professionals, including FIX 4.4 API connectivity, low latency and attractive pricing. Designated market makers may also be eligible to participate in Coinsetter’s Market Maker Equity Incentive Program, through which Coinsetter has opened 10% of its equity. “The experienced team at Coinsetter is committed to providing clients with the most advanced bitcoin exchange in the world. The features announced today raise the bar even further.” Lukasiewicz added. “Our top priority remains security, and all users benefit from Coinsetter’s Securicoin® technology. Bitcoins held in the Securicoin® system are contained in highly protected offline wallets that never directly touch the internet. Furthermore, a human is always involved to verify the validity of each withdrawal.” About Coinsetter Founded in 2012, Coinsetter is Wall Street’s leading bitcoin exchange for firms and individuals. Recently added to the CFTC-regulated Tera Bitcoin Price Index, Coinsetter’s New York-based exchange offers high uptime, low latency trade execution, enterprise bitcoin security by Securicoin®, deep liquidity and attractive pricing. Visit www.coinsetter.com to learn more.
“I’ll be glad to see these bitcoins transitioned to the wider community,” says Jaron Lukasiewicz, the founder of Coinsetter, a high-performance bitcoin exchange designed for traders. Jaron Lukasiewicz, CEO of bitcoin trading exchange Coinsetter, agreed that the existence of a digital currency business licensure is a positive step overall: “As a New York City-based company, the BitLicense is an important asset that will allow us to provide US banking and regulatory protection to our target customer group. Coinsetter is a New York City, venture capital financed bitcoin exchange that is dedicated to making bitcoin safe and reliable for active users. Jaron Lukasiewicz, CEO of New York-based bitcoin exchange Coinsetter, says that his company has built in-house wallet tech for cold storage and manual withdrawal reviews, among other security ... That vulnerability is stressor number one for Jaron Lukasiewicz, former CEO of the bitcoin exchange Coinsetter. He sold the company this year and now is moving on to opportunities outside bitcoins.
Jaron Lukasiewicz on the Vital Role of Cryptocurrency Exchanges (HybridSummit 2017)
Jaron Lukasiewicz - CoinSetter, Yoni Assia - eToro, Luzius Messier - Bitcoinfund.ch and GatisEglitis - Exante discuss Bitcoin as an asset class. The chair of the panel is Gary Hileman -LSE. Jaron Lukasiewicz is the CEO and Founder of Coinsetter, an ECN exchange and bitcoin trading platform. Listen as Jaron discusses his background, his journey into bitcoin, and the reasons why he's so... Jaron Lukasiewicz is founder and CEO of Coinsetter, the only New York-based bitcoin exchange. In this lively discussion, Jaron gives his outlook on the price of bitcoin, working near Wall Street, a... Jaron Lukasiewicz is founder and CEO of Coinsetter, the only New York-based bitcoin exchange. In this lively discussion, Jaron gives his outlook on the price of bitcoin, working near Wall Street ... Jaron served as CEO of Coinsetter, a New York City-based bitcoin exchange, and Cavirtex, a leading bitcoin exchange in Canada – both acquired by Kraken in 2016.