Republic Protocol launches build-your-own-dark-pool platform

June 07, 2018
Chris Wheal

Republic Protocol, the world’s first decentralised cryptocurrency trading dark pool, announced on Thursday the launch of a platform that will allow third parties to build their own dark pools.

Large volumes can be traded anonymously in dark pools: Pic by Shutterstock

Organisations, including existing cryptocurrency businesses such as major exchanges, will be able to offer their users a dark pool platform by integrating Republic’s functionality into their own existing service offerings. This will allow trading of ether, ERC20 tokens and bitcoin pairs.

Competitive dark pools

The first decentralised dark pool supported by the Republic Protocol platform will be its own Ren Exchange (RenEx), which is set to go live on the mainnet in the third-quarter this year.

“Our longer term vision is for a more open and inclusive protocol that allows the creation of competitive dark pools that cater to the particular needs of all different traders,” said Taiyang Zhang, chief executive of Republic Protocol.

Off the books

Cryptocurrency dark pools allow traders of large volumes of assets to make transactions with counterparties “off the books” of the exchange.

This means the transaction is not made visible on the public order book of any exchange, guaranteeing the anonymity of the counterparties in the trade and at prices agreed between those counterparties. Such trades, despite their large volume, have minimum impact on the market price of the asset traded.

“Republic Protocol’s technology means other crypto businesses will now be able to design and deploy dark pools powered by Republic Protocol that serve the broad spectrum of different trader preferences based on fees, regulation, governance or any number of other factors,” the company said.

Post written by Chris Wheal
Chris Wheal is editor of OpenLedger's news and features service. An award-wining business journalists himself, he runs a team of freelance journalists from across the UK and north America.

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