Popular Bitcoin block explorer website Blockchain.com is expanding into crypto trading thanks to a newly launched platform dubbed The Pit. The exchange is based in London and will offer a multitude of trading pairs for bitcoin, Ethereum, Bitcoin Cash, Tether, Litecoin, and Paxos.
The company, which claims a user-base of over 40 million crypto wallet registrations, typically provides all kinds of useful statistics for the Bitcoin blockchain. The expansion into trading, however, signals a move to integrate those customers into a seamless crypto exchange service.
The Pit is named after the frenetic open outcry trading floors of the 80s and 90s where traders screamed over each other and flashed complicated trading signals to place their trades. Most trading these days is done digitally, though, and Blockchain.com intends to dominate the still-nascent crypto exchange market.