Blockchain News

Blockchain Monthly Update: August


While it may have seemed like a quiet month from the outside looking in, our team was buzzing with anticipation, excitement, and a headstrong determination to get the crypto exchange of our dreams over the finish line and into users’ hands. Here’s a brief look back at July, and preview of what’s ahead:

ICYMI – A Lightning Fast Exchange: The PIT

Empowering users to take control of their financial futures has always been core to our mission. On July 30th, we launched The PIT, the fastest crypto exchange in the world. With that launch our motto of Be Your Own Bank expanded to include a lot more.

After a year of planning, engineering, and a tenacious drive to do what no one else had done before, we brought to market a crypto exchange with peerless reliability, world-class infrastructure, and institutional liquidity.

Feature of the Month – Blockchain Connect

Lack of reliability for fiat on and off ramps is a persistent challenge for crypto and it isn’t going away soon. But we like a challenge. We’ve developed an extensive global banking network across the EU, UK, and US to ensure users can easily and securely fund their trading accounts with fiat.

There are few exchanges in the world with those capabilities and even fewer, if any, that hold themselves to the core principle of cryptocurrencies: Financial sovereignty.

A fundamental part of launching The PIT was empowering users to maximize control of their private keys, as we’ve always done with our non-custodial Wallet and products. To ensure and encourage users can do so, we developed a seamless connection function to link Blockchain Wallets with trading accounts on The PIT.

With Blockchain Connect, users can seamlessly and swiftly transfer funds between their trading account and Wallet – all with the click of a button. No copy and pasting addresses. No typos.

We’re thrilled to be bringing this exchange to you all, but our devout belief that non-custodial services will be the future of finance has never, and will never take a backseat.

Enter The PIT when the market is hot. Sweep back funds to your Wallet when you’re finished.

Get in. Cash out.

Trading is now open. So if you haven’t already, create your PIT account by going to pit.blockchain.com. For all things crypto and to keep up-to-date on all PIT related releases, news, insights and promotions, follow us on Twitter @BlockchainPIT.

Blockchain in the Cryptosphere

In the news:

  • Fortune – Peter Smith, CEO here at Blockchain, spoke with Jeff Roberts about launching the fastest crypto exchange in the world: The PIT.
  • Bloomberg – Matthew Leising covered The PIT launch with both Peter and our previously unannounced Head of Trading Products, Nicole Sherrod.
  • TechCrunch – More from The PIT launch, Romain Dillet breaks down key features in TechCrunch article.
  • CNBC – Nicole drives home the importance of The PIT’s lightning-fast speed during volatile markets in a conversation with Ryan Browne
  • Reuters – Peter and Nicole in action again speaking with Gertrude Chavez-Dreyfuss on why The PIT is unmatched in speed and reliability.
  • Yahoo! Finance TV – Nicole is back in the spotlight, this time live with Daniel Roberts discussing the launch of The PIT, what separates it from the rest of the pack, and problems we hope to solve with an exchange of this magnitude.
  • Cheddar –  Kristen Scholer and Tim Stenovec interview Nicole live at the New York Stock Exchange talking The PIT, challenges for retail investors in crypto, and what lies ahead for the exchange.





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