Cryptocurrency trading platform LZF opens trading services to 49 states in the United States

Laissez Faire (LZF), a digital currency trading platform, announced that it will open digital currency exchange services to 49 states in the United States, becoming the first legally operating trading platform in the United States to open digital currency trading services to the entire United States (except New York State). LZF's goal is to provide users with the safest digital currency trading platform.

LZF uses a platform similar to a SaaS structure (Software as a Service), providing an autonomous system that can fully realize banking functions. The autonomous, synchronized system minimizes the need to manually process user requests (except for cold storage).

Due to the introduction of the New York State Bitlicense, LZF is currently not open to New York State.

LZF was formerly known as PS Coin and is now renamed Laissez Faire, which means自由市场.

Banks play a fund custody role

LZF has established a cooperative relationship with the bank, which means that the bank will take on the role of fund custody, while LZF will be responsible for processing transactions. All user deposited funds will be insured by the Federal Deposit Insurance Corporation (FDIC).

Users who want to use LZF services must comply with the platform's KYC (Know Your Customer) approval process, which requires them to fill out a form and submit a photo.

LZF can instantly export and verify bank accounts supported by many automatic exchange ACH centers (the main system for processing bank payments in the United States) by logging into the bank account, which can achieve a smooth and fast bank account connection process. Currently, about 30 banks support this feature. Banks that do not support this feature must be added manually and verified by confirming two small transactions.

LZF's ACH deposits and withdrawals are similar to the operations of Coinbase and Circle's credit or debit card accounts. There is no handling fee for ACH deposits and withdrawals on LZF. The money withdrawn by the user after the exchange will be deposited into the user's account the next day.

New features coming soon

LZF will soon introduce international and domestic wire transfer services for same-day transfers, with no handling fees charged for wire transfers.

LZF will also expand to the Euro and the Southeast Asia Pacific region in the near future. The platform currently supports the exchange of Bitcoin, Futurecoin, Dash (Darkcoin), Litecoin, Peercoin and US dollars.

LZF adopts a unique algorithm design to encourage traders to take trading behaviors that are beneficial to the market by providing them with royalty rewards. For example, traders can accumulate depth through buy and sell orders and automatically receive subsidy rewards.