On November 7th, 2019, Nash announced the integration of Bitcoin support to its fund management tools. The update will allow users to send and receive Bitcoin in a non-custodial manner, with plans to enable Bitcoin purchases in fiat through its partners over the coming weeks. In other news, Nash also announced that it has expanded its services to California-based users.
“All Bitcoin bought through our partners will be transferred directly to users’ personal wallets, rather than a custodial account, as with any other asset supported by our platform. This will offer Nash users a more secure method of buying Bitcoin than centralized exchanges – and at competitive prices.”
Additionally, the team continued to reiterate its ambition to enable performant, non-custodial Bitcoin trading on the Nash Exchange. Nash notes that this feat has not yet been achieved in the blockchain industry, with most exchanges using token wrapping methods to enable Bitcoin trading in a custodial manner.
To achieve non-custodial Bitcoin trading, Nash has designed a trading protocol that uses simple hashed time-locked contracts and other scripting primitives. As with other trades on the Nash exchange, Bitcoin orders will be processed by an off-chain matching engine with the goal of offering “speed, liquidity and functionality similar to trading Bitcoin on a centralized platform.”
The original announcement on non-custodial Bitcoin wallets on Nash may be read at the link below: