Company Information

Get to know SparkSwap

SparkSwap was a venture-backed financial technology company that developed one of the first decentralized exchanges (DEX) using Bitcoin's Lightning Network. Founded in 2018 and part of the Y Combinator W19 batch, its mission was to combine the high performance and user experience of centralized exchanges with the security and self-custody of decentralized platforms through atomic swaps. The platform allowed users to trade cryptocurrencies like Bitcoin and Litecoin directly from their own wallets without depositing funds with a third party. The company ceased operations and shut down its service in January 2020, citing low user adoption and the early stage of the Lightning Network ecosystem as primary reasons.

Industry

Crypto ExchangePRIMARY
Crypto Cryptocurrency
Financial Other Service

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SparkSwap

United States

Founded in

2017 (9 Years)

Founded

Last online: No recent activity

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OVERALL SCORE

Licenses

--/40

Reviews

--/60

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FTD LIMITED

(505 reviews)

British Virgin Islands

2017

(9 years)

Security Information :

BVI FSC

Security Information

Warning

This company is currently Unproved.

Please be cautious of the potential risks!

License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.