Introduction to Legolas
We are pleased to announce Legolas Exchange, a demonstrably fair and bank-backed premium cryptocurrency exchange for institutional investors.
By incorporating a decentralized ledger within our proprietary centralized platform, we aim to guarantee the inalterability, temporality and transparency of the order book and ensure a fair trading environment.
The Legolas Protocol
The Legolas Protocol is a semi decentralized order matching protocol. Incoming orders and transactions are encrypted, timestamped and stored in a blockchain, while order matching is made off-chain.
The decentralization of orders and transaction data allows for transparent price formation, transaction audit, and zero front-running. Additionally, the centralization of order pooling and order matching leads to efficiency and scalability, bypassing current blockchain limitations.
We bring the best of the centralized and decentralized worlds together, by combining the blockchain’s transparency and inalterability with the efficiency and scalability of off-chain matching.
A partnership with institutional brokers
Legolas is interacting with institutional brokers in order to get access to and provide a streamlined service to institutional investors. We recently announced a partnership with Makor — an institutional broker with offices in 7 countries and registered with the SEC, the FINRA and the FMA.
The cash custody of Legolas Exchange clients will be taken care of by Makor’s banking partners (including Societe Generale and Bank of America). Clients will be able to buy cryptocurrencies directly through Makor, without having to go through the hassle and uncertainty linked with registering with crypto exchanges and adding new processes to their structure.
To put it simply, as soon as Legolas Exchange will be released, Makor’s institutional client base will be able to buy and sell cryptocurrencies on the exchange, using the same processes than when buying stocks or bonds.
Providing KYC (Know Your Customer), AML (Anti Money Laundering) and secure crypto and cash custody to institutional investors.
Through our partnership with brokers, we will provide a secure cash custody for our client’s fiat funds, by storing them with our brokers’ banking partners (Bank of America, Societe Generale,etc.).
The KYC and AML onboarding of Legolas’ users will be done by our broker partners, which have very high standards and requirements for these processes. As such, Legolas will be bridging the gap between the current KYC and AML done by crypto exchanges and the level of service needed by financial institutions.
In addition, Legolas Exchange has partnered with Ledger, which is considered the safest cold storage solution in the market, to provide customers with the safest and most secure cryptocurrency custody available on the market.
An audited hybrid exchange protocole certified by CertEurope
Legolas has established a technical partnership with CertEurope, one of the leading Certification Authorities in Europe. We are thus already able to have a portion of our algorithm accredited by the ANSI (the French National Agency for the Security of Information Systems). This is a first, and major, step towards full accreditation and insurance for our platform. It is also a major affirmation of Legolas’s vision for a hybrid system.
To put it simply, Legolas aims to bring a transparent, fair and high service quality cryptocurrency exchange to institutional investors.
Legolas Exchange (https://legolas.exchange) is a demonstrably fair, bank-backed premium exchange for institutional investors. It incorporates a decentralized ledger within its proprietary centralized platform in order to guarantee the inalterability, temporality and transparency of the order book and ensure a fair trading environment.
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