The launch of the Laissez Faire (LZF) digital currency-to-fiat exchange platform in 49 states marks the first U.S.-based exchange to operate legally throughout the entire U.S., with the exception of New York. The goal is to provide a digital currency-to-fiat exchange platform that provides the most secure, incentivized trading environment.
Using a structure similar to a Saas (software as a service) platform, LZF provides an autonomous system with fully-implemented banking capabilities. The autonomous, synchronized system minimizes the need to manually process user requests (with the exception of crypto cold storage).
CCN reported earlier this year that the company, formerly known as PS Coin, took the name Laissez Faire, which means the free market.
Banks Act as Fund Custodians
The exchange’s banking relationships allow LZF to manage the ledger and the platform with the bank acting as a funds custodian. All user-deposited funds are FDIC-insured.
The exchange provides an instant know-your-customer (KYC) approval process that is available to all U.S. citizens. The user must fill out a form and submit a photo. They will then immediately be able to use the LZF fiat services.
The exchange can instantly import and verify