An outline of everything that happened at LGO during the month of May 2020.

Highlights

  • LGO & DASH partnership
  • USDT on LGO
  • LGO’s presence in South America
  • LGO announces its new lending business
  • LGO’s Daily Credit Facilities

Monthly Insight

Bitcoin, stablecoins and cryptocurrencies are becoming evermore prevalent, as a reaction to the current crisis and the associated monetary responses ensues. In May, we have seen growing interest growing for all of our services. We launched our OTC platform in South America and signed our first partnership with a cryptocurrency foundation: DASH. We have seen increased interest from clients on the lending side, through increased demand for term loans and for our daily credit facility. Finally, our spot exchange has benefited both from additional efficiencies thanks to our partnership with FireBlocks and additional interest through the listing of the USDT/USD pair.

LGO & DASH Partnership

A major step forward in the development of our OTC services is our partnership with DASH. LGO has partnered with DASH, one of the largest cryptocurrencies by market capitalization, to power one of the largest cryptocurrency cross border payment networks to date. We look forward to working with Dash as we build the future of digital asset trading. You can learn more about our partnership with DASH on our official partnership announcement.

LGO’s USDT services

Following numerous client demands, we were excited to finally add USDT to the OTC platform as well as our spot exchange. USDT is now available for trading with several pairs. We currently provide the tightest USDT/USD spread in the market via chat and service several million dollars of liquidity on a 10bps spread. We look to release USDT/USD spot trading on our platform in the very near future.

LGO’s presence in South America

Through our OTC platform, we offer B2B cross-border payment and remittance services to institutions around the world. Recently, we added a specific focus on South America (ex: Mexico, Brazil, and Colombia) as demand for offshore liquidity and cross-border transactions increased in light of global turmoil. LGO offers deep BTC/MXN liquidity, with better prices than other exchanges for larger sizes.

Over the past months, we have seen a growing interest from South American countries to hold bitcoin and stablecoins, in particular for cross-border payment use.  This trend can be explained by several factors as these regions are affected by a devaluation of their currencies against the dollar and aggressive monetary policies has led to hyper-inflationary spirals (ex: Venezuela). Individuals and businesses seek cryptocurrencies and stablecoins as a means to store value; a promise their domestic currency may not be able to fulfill.

Local actors are turning to alternatives like Bitcoin and stablecoins such as Tether which offer privileged access to global markets without intermediaries. The demand for digital assets in general is experiencing unprecedented expansion in Latin America and LGO provides institutions with alternatives to domestic currency in a secure and scalable manner.

At LGO, we see crypto demand in South America not as a mere trend, but as a part of the future of the modern financial system. It is no longer a bet but a promise. If you are located in South America and are looking for a partner on bitcoin, USD or another pair, feel free to contact us here.

If you would like to provide liquidity in BRL, MXN, COP or another currency, you can also reach out to sales@lgo.group or go directly to our website.

LGO announces its new lending business

In order to provide our clients with more flexible financing opportunities, we recently introduced term loans as an available source of financing for LGO clients. Access to a wide variety of financing and lending options on a panel of digital assets and fiat currencies is now available through LGO. We support assets such as BTC and XRP as well as stablecoins such as PAX or USDC and offer loans in USD. Clients can use our loans to trade on the LGO spot exchange or pursue other investment opportunities. You can find out more about all of LGO’s financing options on our product page.

LGO Daily Credit Facilities

We have updated the terms of our Daily Credit Facility in order to optimize the clients benefits. Clients are now able to:

  • Trade on LGO’s spot market without fully pre-funding trades
  • Trade with 10-30% collateral required & 2-4% funding rates on USD and BTC
  • Settle at the end of the day

The main advantages that the daily credit facilities provides to users include:

  • Security: Reduced counter-party exposure thanks to post-trade settlement feature.
  • Capital Efficiency: No pre-funding required, under-collateralized credit line.
  • Flexibility:  Line open at all times and payment only required when the line is used.

Daily credit lines allow traders to trade on margin everyday, or keep their lines open for volatile days without sacrificing capital.

In the Media

Here is a short list of our featured articles this month in the media:

Thank you all, and take care !


About LGO

LGO is the leading Bitcoin spot exchange for institutions. Live since April 2019, we are trusted by over 60 institutional counterparties across 20 countries. With a boutique approach, we provide a suite of fully customizable services, best in class technology, and deep liquidity. Please contact us at: https://lgo.group