Groq™ Partners With New Customer, OneNano™, Providing Ultra-low Latency for Next Generation Cryptocurrency Exchange (CEX)
- OneNano to develop next-gen CEX using scalable, ultra-low latency AI acceleration solutions built by Groq.
- OneNano and Groq aim for an 8,000x speedup compared to today's lowest known CEX latency.
- OneNano to offer reliability, speed, security, and compliance unmatched by existing providers.
MOUNTAIN VIEW, Calif., Dec. 15, 2022 /PRNewswire/ -- Today, 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."
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
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.
Early next year, OneNano will be offering exclusive access for market participants to test the platform, onboarding clients, and preparing for their official launch early in the second quarter of 2023. For inquiries, contact OneNano at [email protected].
Groq is a technology company delivering ultra-low latency performance and record-breaking inference results for the next era of compute in AI, ML, and HPC. Read our latest customer news in cybersecurity, pharma, and finance. For more information, visit www.groq.com.
Groq Media Relations Contact:
Mariah Larwood
+1 (707) 391-1679
[email protected]
SOURCE Groq
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