As Bitcoin continues its journey on returning to its original, utility based protocol with upgrades to Bitcoin SV (BSV), it’s quickly proving that it’s the only blockchain the world needs. Recognizing the progress it’s made, DRIVE Markets have announced they will begin offering spot trading for a BSV and U.S. Dollar pair, along with deposits and withdrawals for BSV.
The July 17 announcement brings a great new way for institutional investors to get into the BSV space directly using fiat. As BSV has already proven with its ability to scale the blockchain massively, it’s not only capable of handling the financial transactions of the world, but as it continues to scale, it will become the world’s data network. None of its supposed competitors come close.
That ability to scale massively and provide real value was a key factor in DRIVE Markets decision to offer a BSV onramp. CEO of DRIVE, Kate Hiscox, stated in the release:
“DRIVE Markets is an institutional exchange and Bitcoin SV is focused on enterprise blockchain growth with its massive scaling roadmap. It makes perfect sense for us to add support for BSV, especially with the increased attention it has been receiving.”
For DRIVE Markets users who already have funds invested in other cryptos, they will soon have easy methods to switch over to the real Bitcoin. The release notes that BSV pairs with SegWitCoin (BTC), Ethereum, Litecoin and several others will be available in the near future.
DRIVE is also working on DRIVE Pay, a BSV based settlement layer for international institutions who use the SWIFT network for transactions across the globe. By leveraging BSV’s ability to record and transmit thousands of transactions cheaply, along with the proven and embedded SWIFT network, they’ll provide a convenient entry point for banks and financial bodies to use the BSV network rather than build expensive in-house solutions that are unlikely to perform half as well.
As Hiscox has told CoinGeek in the past, she’s focused on the needs of customers first and foremost. With this news that DRIVE Markets will be providing great new ways to buy BSV, it looks like she’s doing just that.
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