Popular cryptocurrency and futures exchange Bitfinex has significantly expanded its server capacity. Reportedly, this capacity has even doubled.
Service level is comparable to major stock exchanges
The exchange is doing this to cope with the rising demand for digital tokens in the near future. For example, more and more hedge funds and institutional investors are entering the crypto markets. With the expanded server capacity, users from established markets now receive a level of service comparable to that of major stock exchanges.
Due to the additional servers, the computing power available on the Bitfinex platform is significantly expanded. This allows funds to translate various trading strategies from conventional markets into the digital token space. Globally, funds employ diverse and often sophisticated strategies, including high-frequency trading (HFT) games such as statistical arbitrage and volatility arbitrage. The CTO at Bitfinex, Paolo Ardoino, has this to say about the doubling of server capacity:
“The doubling of our server capacity, coupled with the improvement of the internal network, is probably the biggest upgrade we’ve had since moving to our data center in 2018. We have an obsessive interest in technical improvement. This is why hedge funds, institutional investors and professional traders trade with us.”
Bitfinex continues to expand at the institutional level
Previously, the crypto exchange has partnered with Market Synergy. This is a supplier of tailor-made network solutions, intended for institutions. The CEO of Market Synergy has this to say about the partnership:
“We will continue to provide Bitfinex with institutional-caliber digital asset connectivity. Bitfinex is a recognized industry leader and this significant investment in infrastructure reinforces their commitment to the institutional market. They are ideally placed to maintain their leading market position as institutional demand continues to gain momentum.”
The partnership will allow HFT companies to gain secure connectivity to Bitfinex, via a FIX feed or ISP link. Currently, there are reportedly about 100 HFT companies operating on the Bitfinex platform.