Blockchain based exchange Lykke launches Ethereum (ETH) trading

Lykke, a Swiss-based financial technology company building a global blockchain-powered marketplace, announces the availability of ether (ETH), the world’s second most popular cryptocurrency, which can now be found in all Lykke wallets available for trade.

“This is a big accomplishment for the Lykke team,” said Richard Olsen, CEO of Lykke. “With the integration of the Ethereum blockchain, we will bring to our platform a new dimension of trading.”

As of today, all Lykke users will be able to trade ETH against all other tokens and currencies in the Lykke exchange. Lykke’s engineers are now working on tokens. By end of summer, Lykke will be an ERC20-token wallet and will be able to engage with all smart contracts on the Ethereum blockchain.

Ethereum has seen a dramatic rise and acceptance as the base currency for most tokens. With the Bitcoin-based Open-Assets tokens Lykke has offered previously and now the addition of Ethereum-based tokens, Lykke will be able to offer more than 95% of all cryptographic tokens on the market. The availability of existing ERC20 tokens and onboarding process for new tokens will be announced by end of summer.

As with all tokens on the Lykke exchange, users hold their private keys in their own wallets. The exchange uses a multi-sig mechanism, which binds the customer’s ETH to the exchange for trading purposes. A separate “private wallet” also holds ethers off the exchange. A “cold storage” option is not available at this time.