OneNano to develop next-gen CEX using scalable, ultra-low latency AI acceleration solutions built by Groq
Groq announced a new partnership with customer OneNano, a next generation cryptocurrency exchange (CEX) platform founded by leaders with decades of experience in financial and high-speed trading.
Nacer Idrissi, CEO and Co-founder of OneNano said, “Crypto is at the perfect stage for technological and financial breakthroughs, ready for a shift from legacy to revolutionary approaches. OneNano’s next-gen crypto exchange platform combines decades worth of modern traditional finance knowledge with advanced technological resources and financial innovations.”
Latest Fintech News: Versana Launches Digital Data Platform, Delivering the Modern Foundation to Transform the $5T Syndicated Loan Market
Six months of work between OneNano and Maxeler Technologies™, a division of Groq, resulted in an official partnership and agreed plans to build a secure, reliable, and compliant platform run on Groq technology. Maxeler is developing a new, ultra-low latency crypto trading platform for OneNano, using its deep experience in building low latency trading systems and high performance risk analytics solutions.
“Groq and Maxeler’s combined offerings provide customized technology, with high performance, low latency hardware and extensive trading technology experience, ideally suited to OneNano’s unique goals,” commented Tobias Becker, VP of Research and Development at Maxeler Technologies.
Latest Fintech News: Primis Bank Launches on Savana’s Digital Delivery Platform
In the current CEX landscape, the average latency per exchange, measured at optimal distance, ranges from eight to 279 milliseconds. OneNano aims to deliver latency of just 0.001 milliseconds, an 8,000x speedup compared to today’s best known CEX. OneNano’s ultra-low latency platform will help reduce uncertainty, especially amidst increased market volatility, enable real-time tracking of positions, and provide the security of a stable exchange in all conditions.
Recent turbulence in the crypto space was a result of inexperience and mismanagement, a lack of processes and controls, and inadequate security practices. OneNano combines a deep bench of trading experts, a highly disruptive and superior technology to revolutionize the CEX environment, and unique knowledge of compliance and regulations to lead the future of cryptocurrency trading.
Latest Fintech News: Glia Teams with Jack Henry to Accelerate Digital Customer Service
[To share your insights with us, please write to sghosh@martechseries.com]
