Tagomi, an electronic brokerage company that also allows digital assets trading is now allowing its users to lend or borrow Bitcoin (BTC) and Ethereum (ETH) to facilitate long and short term trades. Tagomi aims to make the process of shorting easier by offering immediate access to multiple counterparties from a single platform. Tagomi has made several agreements to make such lending and borrowing easier.
Currently, trading is a difficult process and the traders have to call a host of brokers and trading desks to find the best rates for borrowing and risk the market moving against them during the time it takes to put on a trade.”
Kevin Johnson, Tagomi’s Chief Operating Officer has said that:
“In other asset classes this would be done with one click, but in crypto, it’s very long and tedious to try and put a short on. ”
Dennis Chou, Director of trading at Pantera Capital, an investment firm and hedge fund focused on digital token has said that: “The crypto space is volatile, so if you can’t short, you’re missing part of the puzzle.” He believes that this facility is going to help the crypto buyers and traders who want to engage in Bitcoin (BTC) and Ethereum (ETH) in any form.