COINUT is a cryptocurrency exchange founded in 2013 and owned by the COINUT Group and headquartered in Asia’s financial hub, Singapore, with subsidiaries in north America and Europe. It was designed to make it easier, faster and more secure for people all over the world to trade cryptocurrencies and their derivatives. The company is backed by Boost VC in Sillicon Valley and NUS Enterprise in Singapore. COINUT was the first to provide exchange traded Bitcoin options. However, they paused options trading in 2016 due to liquidity issues and limited market interests. Currently they are providing cryptocurrencies trading with fiat support including Singapore dollars and US dollars. But they are looking forward to relaunching options and other derivatives trading.
COINUT exchange was founded in 2013 by Xinxi Wang, who was pursuing his PhD in Computer Science in National University of Singapore. Before he started the exchange, he traded in the forex market for years and developed his own automated trading strategy. Both his background in Computer Science and forex trading laid a foundation for creating the exchange. In 2016, he was fasciated by Litecoin and joined as a volunteer developer and later he co-founded the Litecoin Foundation with the Litecoin creator Charlie Lee. Since then, Litecoin has became the mostly traded cryptocurrency in the exchange.
COINUT has a very advanced match engine that can handle 2.6 million orders per second, which is probably the fastest among all cryptocurrency exchanges followed by Binance. Their backend system was written in C/C++ instead of the prevalent scripting languages like NodeJS or PHP. According to their founder, their proprietary technology is not based on LMAX, which may have issues in failure recovery.
The exchange was founded in Asia's financial hub, Singapore. In late 2017, the exchange experienced tremendous growth and started to expand overseas. Now the exchange has subsidiaries in Canada and Switzerland and will enable Canadian dollars and Euros trading.