{"id":"btse","title":"BTSE","content":"**BTSE (BTSE)** is a [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) exchange and financial services platform offering spot and derivatives trading alongside tools for asset management such as earn products, multi-currency settlement, and unified order book infrastructure. It positions itself as a trading ecosystem focused on liquidity efficiency, flexible [collateral](https://iq.wiki/wiki/collateral) systems, and integrated services designed for both retail and institutional users. [\\[1\\]](#cite-id-rkx4i6tw0xd)​\n\n[YOUTUBE@VID](OLGXcwiJAeo)\n\n## Overview\n\nBTSE is a [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) exchange and financial technology company that provides [digital asset](https://iq.wiki/wiki/digital-assets) trading and related financial services for retail and institutional users. Its platform supports spot and futures trading, [fiat](https://iq.wiki/wiki/fiat-money) on- and off-ramps, [digital asset](https://iq.wiki/wiki/digital-assets) deposits and withdrawals, [staking](https://iq.wiki/wiki/staking) and yield products, and enterprise services for businesses integrating [blockchain](https://iq.wiki/wiki/blockchain) technology into their operations. The platform includes features such as a unified order book, multi-asset [collateral](https://iq.wiki/wiki/collateral) and settlement for derivatives trading, and support for multiple [cryptocurrencies](https://iq.wiki/wiki/cryptocurrency) and [fiat](https://iq.wiki/wiki/fiat-money) currencies. BTSE also offers API access, customer support, token listing services, and infrastructure designed to support high transaction throughput, self-hosted operations, cold storage custody, and scalable trading systems. In addition to its exchange, BTSE operates a broader ecosystem of financial products and services intended to support [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) trading, payments, asset management, and institutional [blockchain](https://iq.wiki/wiki/blockchain) adoption. [\\[19\\]](#cite-id-nN0mJyk2RCUyUWo8) \n\n## Features\n\n### BTSE Card\n\nThe BTSE Card is a payment card that enables users to spend [digital assets](https://iq.wiki/wiki/digital-assets) for everyday purchases by automatically converting supported [cryptocurrencies](https://iq.wiki/wiki/cryptocurrency) into local [fiat](https://iq.wiki/wiki/fiat-money) currency at the time of payment. It can be used for online and in-store transactions wherever Visa is accepted, with planned support for ATM withdrawals through a physical card. The card integrates with BTSE accounts, allowing users to fund it with [digital assets](https://iq.wiki/wiki/digital-assets) and manage spending through features such as real-time transaction notifications, card freezing and unfreezing, and multi-currency support for international payments. The service is designed to connect [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) holdings with conventional payment networks, enabling [digital assets](https://iq.wiki/wiki/digital-assets) to be used for routine consumer transactions without requiring manual asset conversions before purchase. [\\[20\\]](#cite-id-85jcp8v7EE7P5mwD) \n\n### All-in-One Orderbook\n\nThe BTSE All-in-One Order Book is a unified trading infrastructure that combines liquidity from multiple spot trading pairs into a single shared order book, rather than maintaining separate order books for each quote currency. Under this model, supported markets that share the same underlying asset draw from a common [liquidity pool](https://iq.wiki/wiki/liquidity-pool), allowing users to access multiple [cryptocurrency](https://iq.wiki/wiki/cryptocurrency), [stablecoin](https://iq.wiki/wiki/stablecoin), and [fiat](https://iq.wiki/wiki/fiat-money) trading pairs without switching between isolated markets or manually changing base currencies. The system is designed to reduce liquidity fragmentation by aggregating orders across supported trading pairs, enabling less actively traded markets to benefit from the same liquidity available in larger markets. This approach aims to improve order execution, increase fill rates, and provide more consistent pricing across different quote currencies. It also allows traders to move directly between supported trading pairs, reducing the need for intermediary conversions and the additional transactions that are often required on exchanges with separate order books.\n\nIn addition to simplifying market access, the unified order book supports trading across a wider range of [fiat](https://iq.wiki/wiki/fiat-money) and [digital assets](https://iq.wiki/wiki/digital-assets) while maintaining a single interface for order placement. By consolidating liquidity into a single trading structure, BTSE's order book is intended to enhance market efficiency, reduce operational complexity for traders, and provide a more integrated trading experience across its spot markets. [\\[21\\]](#cite-id-rwLaWIebGlLfhxUq)  [\\[22\\]](#cite-id-K9xnr8RlCKXy46dR) \n\n### Multi-Asset Futures Collateral\n\nMulti-asset [collateral](https://iq.wiki/wiki/collateral) on BTSE is a futures trading framework that allows users to use a combination of [cryptocurrencies](https://iq.wiki/wiki/cryptocurrency) and [fiat](https://iq.wiki/wiki/fiat-money) assets as margin within a single unified [collateral](https://iq.wiki/wiki/collateral) pool. Instead of requiring traders to convert all holdings into a single base currency like [USDT](https://iq.wiki/wiki/tether), the system simultaneously recognizes assets such as [BTC](https://iq.wiki/wiki/bitcoin-btc), [ETH](https://iq.wiki/wiki/ethereum), [stablecoins](https://iq.wiki/wiki/stablecoin), and supported [fiat](https://iq.wiki/wiki/fiat-money) currencies as usable [collateral](https://iq.wiki/wiki/collateral). Each asset is assigned a [collateral ratio](https://iq.wiki/wiki/collateralization-ratio) (or haircut) based on its risk and liquidity profile, which determines how much margin value it contributes to open positions. This structure allows unrealized gains or holdings in one asset to offset margin requirements across the entire portfolio, reducing the likelihood of [liquidation](https://iq.wiki/wiki/liquidation) caused by short-term volatility in a single asset.\n\nBy pooling [collateral](https://iq.wiki/wiki/collateral) across multiple assets, the system improves capital efficiency by enabling traders to deploy idle holdings directly into margin without forced conversions or cash drag. It also helps reduce liquidation risk, since losses in one asset can be partially offset by stability or gains in others within the same account. Profits from futures positions can be settled into different supported assets, further reducing operational friction and improving flexibility in portfolio management. In practice, this means traders can maintain diversified exposure while still using their full balance as active margin for derivatives trading. Overall, multi-asset [collateral](https://iq.wiki/wiki/collateral) is designed to make futures trading more efficient, resilient, and aligned with how diversified [crypto](https://iq.wiki/wiki/cryptocurrency) portfolios are actually held. [\\[23\\]](#cite-id-FHtXejuOIdmyMW4T)  [\\[24\\]](#cite-id-pSOr3eI02q81L7uO) \n\n### BTSE DEX\n\nBTSE DEX is a [decentralized exchange](https://iq.wiki/wiki/decentralized-exchange) launched by BTSE in 2023 and built on the [Orderly Network](https://iq.wiki/wiki/orderly-network), which operates on the [NEAR](https://iq.wiki/wiki/near-protocol) [blockchain](https://iq.wiki/wiki/blockchain). The platform was designed to combine self-custodied trading with a [centralized exchange](https://iq.wiki/wiki/cex-centralized-exchange)-style order book, allowing users to retain control of their assets while accessing an order book-based trading environment. By integrating with [Orderly Network's](https://iq.wiki/wiki/orderly-network) shared liquidity infrastructure and market makers, BTSE DEX supports spot and perpetual futures trading with reduced [slippage](https://iq.wiki/wiki/slippage) and tighter spreads compared with many traditional [automated market maker (AMM)](https://iq.wiki/wiki/automated-market-maker) [decentralized exchanges](https://iq.wiki/wiki/decentralized-exchange). The platform also maintains a user interface similar to BTSE's [centralized exchange](https://iq.wiki/wiki/cex-centralized-exchange), providing a more familiar trading experience while preserving on-chain asset custody.\n\nThe exchange supports a range of [digital assets](https://iq.wiki/wiki/digital-assets), including major [cryptocurrencies](https://iq.wiki/wiki/cryptocurrency) and [NEAR](https://iq.wiki/wiki/near-protocol) ecosystem tokens, and enables users to connect compatible [NEAR](https://iq.wiki/wiki/near-protocol) wallets directly to the platform. It also supports asset transfers between [Ethereum](https://iq.wiki/wiki/ethereum) and [NEAR](https://iq.wiki/wiki/near-protocol) through cross-chain bridging solutions, allowing assets to move between networks for trading. BTSE DEX was developed as part of BTSE's broader strategy to integrate centralized and decentralized trading infrastructure, with planned expansion to additional [blockchain](https://iq.wiki/wiki/blockchain) ecosystems and [Ethereum Virtual Machine (EVM)](https://iq.wiki/wiki/ethereum-virtual-machine-evm)-compatible networks through [Orderly Network's](https://iq.wiki/wiki/orderly-network) multichain infrastructure. The platform combines decentralized custody with centralized-style trading features, including an order book model, shared liquidity, and cross-chain interoperability. [\\[18\\]](#cite-id-5tQMVUwDEI)  [\\[25\\]](#cite-id-pVBfYQPhlnJgMQwJ) \n\n[YOUTUBE@VID](https://youtube.com/watch?v=uuBTUBPdytI)\n\n## BTSE Token\n\nBTSE Token (BTSE) is the native [utility token](https://iq.wiki/wiki/utility-token) of the BTSE exchange ecosystem, issued on the Liquid Network, a [Bitcoin](https://iq.wiki/wiki/bitcoin) sidechain that enables confidential transactions and asset transfers. It is designed to function within the BTSE platform as a utility layer that supports trading activity, user engagement, and access to exchange-related services rather than operating as a standalone [cryptocurrency](https://iq.wiki/wiki/cryptocurrency). The token is integrated across multiple parts of the exchange, including spot and derivatives trading environments, where it helps connect user participation with platform incentives. Its primary uses include trading fee discounts, access to VIP tier benefits, eligibility for promotional programs, and participation in platform reward structures. BTSE Token is also incorporated into the BTSE Earn program, where users can allocate or stake tokens to generate yield through mechanisms tied to exchange activity and liquidity programs. Beyond these utilities, the token serves as a link between user behavior and platform incentives, reinforcing engagement within the broader ecosystem.\n\nBTSE Token has a fixed maximum supply of 200 million tokens, establishing a capped issuance model and limiting long-term dilution. Its overall design centers on reinforcing platform usage rather than acting as an external payment or [governance asset](https://iq.wiki/wiki/governance-tokens), embedding it directly into the operational and incentive structure of the BTSE exchange. [\\[10\\]](#cite-id-C7lj2xuC5C) \n\n## Partnerships\n\n* [Pyth Network](https://iq.wiki/wiki/pyth-network)\n* Bookmap\n* [Galxe](https://iq.wiki/wiki/galxe)\n* Fireblocks\n* [Solana](https://iq.wiki/wiki/solana)\n* [Ethereum](https://iq.wiki/wiki/ethereum)\n* [Bitcoin](https://iq.wiki/wiki/bitcoin)\n* [NEAR](https://iq.wiki/wiki/near-protocol)\n* [Orderly Network](https://iq.wiki/wiki/orderly-network)\n* [Base](https://iq.wiki/wiki/base)\n* Liquid Network","summary":"BTSE is a digital currency exchange launched in 2018, offering trading in over 150 cryptocurrencies. 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added technical and custody details [[1]](#cite-id-rkx4i6tw0xd) [[19]](#cite-id-nN0mJyk2RCUyUWo8) [[20]](#cite-id-85jcp8v7EE7P5mwD) [[21]](#cite-id-rwLaWIebGlLfhxUq) [[22]](#cite-id-K9xnr8RlCKXy46dR) [[23]](#cite-id-FHtXejuOIdmyMW4T) [[24]](#cite-id-pSOr3eI02q81L7uO) [[18]](#cite-id-5tQMVUwDEI) [[25]](#cite-id-pVBfYQPhlnJgMQwJ) [[10]](#cite-id-C7lj2xuC5C)\",\"Expanded BTSE Token section with utility, integration across the platform, and stated max supply of 200 million tokens (tokenomics details added) [[1]](#cite-id-rkx4i6tw0xd) [[19]](#cite-id-nN0mJyk2RCUyUWo8) [[20]](#cite-id-85jcp8v7EE7P5mwD) [[21]](#cite-id-rwLaWIebGlLfhxUq) [[22]](#cite-id-K9xnr8RlCKXy46dR) [[23]](#cite-id-FHtXejuOIdmyMW4T) [[24]](#cite-id-pSOr3eI02q81L7uO) [[18]](#cite-id-5tQMVUwDEI) [[25]](#cite-id-pVBfYQPhlnJgMQwJ) [[10]](#cite-id-C7lj2xuC5C)\",\"Updated Partnerships list (explicit partner names enumerated: Pyth Network, Bookmap, Galxe, Fireblocks, Solana, Ethereum, Bitcoin, NEAR, Orderly Network, Base, Liquid Network)\",\"Removed 'Founding Team' section content that previously contained bios for Henry Liu and Jeff Mei (those bios are no longer present in the article body)\"]},{\"title\":\"References\",\"subtitle\":\"Reference list value was updated/expanded with additional reference entries and new reference ids\",\"variant\":\"modified\",\"changeCount\":2,\"changes\":[\"Updated references list value: preserved many existing entries and added new reference items including (id 'nN0mJyk2RCUyUWo8' - About | BTSE, id '85jcp8v7EE7P5mwD' - BTSE Card | BTSE, id 'rwLaWIebGlLfhxUq' - All-in-One Orderbook | BTSE, id 'K9xnr8RlCKXy46dR' - All-in-One Orderbook | BTSE Blog, id 'FHtXejuOIdmyMW4T' - Futures 2.0 | BTSE, id 'pSOr3eI02q81L7uO' - Multi-Asset Collateral Capital | BTSE Blog, id 'pVBfYQPhlnJgMQwJ' - BTSE DEX | BTSE Blog)\",\"Existing earlier references (e.g., rkx4i6tw0xd, y5jei2n2h, KhMWS4KkDB, C7lj2xuC5C, 1GfI3jeMCU, cLvOPHmAQ9, z0qf4jVmYX, 2Z0JifXP0z, fykAwop1j3, cE6n31CeVI, PS2aeRrLTH, 5tQMVUwDEI) remain present or were retained in the new value\"]},{\"title\":\"Images (IPFS id)\",\"subtitle\":\"Main image/IPFS id was replaced\",\"variant\":\"modified\",\"changeCount\":2,\"changes\":[\"Removed image id 'QmS5XeLydQN4RiJmDt9jcV5fd5Xc5y8itwuGmL7vE85FdN'\",\"Added image id 'QmZGzKHJNphxqMxzMmwTKGtKYr65kEdMGoYiKmvNt9JQML'\"]},{\"title\":\"Founders (metadata)\",\"subtitle\":\"Founders metadata was populated\",\"variant\":\"modified\",\"changeCount\":2,\"changes\":[\"Added founder 'jonathan-leong'\",\"Added founder 'henry-liu'\"]},{\"title\":\"Speakers (metadata)\",\"subtitle\":\"Speakers metadata (previously an empty array) was removed from the record\",\"variant\":\"removed\",\"changeCount\":1,\"changes\":[\"Removed 'speakers' field (was an empty array in previous version)\"]},{\"title\":\"Tags / categories\",\"subtitle\":\"Tag/category identifiers were changed: some tags removed, some added\",\"variant\":\"modified\",\"changeCount\":4,\"changes\":[\"Removed tag 'DEXes' and added tag 'DEX'\",\"Removed tag 'Organizations' and added tag 'CEX'\",\"Added tag 'Ethereum'\",\"Added tag 'Bitcoin'\"]},{\"title\":\"Metadata\",\"subtitle\":\"New metadata fields were added\",\"variant\":\"added\",\"changeCount\":2,\"changes\":[\"Added metadata 'blocks-changed' with value 'tags, image'\",\"Added metadata 'wiki-score' with value '91'\"]}]}]}"}