LZF is a US-based company founded in 2013. The company operates a currency trading platform that emulates the kind of behavior traders portray in markets. The company was formerly called PS Coin and was formed based on a concept which was conceived in 2011. LZF, which is the short form of Laissez Faire, took more than a year to develop before it was released to the public. The online currency trading platform was officially opened to alpha testers in 2015.
The company’s goal is to introduce the world to a new and radical system of crypto-currency trading. LZF was also the first US-based Bitcoin trading platform allowed legally to operate fiats market in 49 states.
Andrew Tepper and Daniel Pusateri are the co-founders of LZF. Andrew Tepper is the founder of eGenesis and the creator of the first ever MMORPG casino where chips are being replaced with Bitcoin. He also wrote LZF’s trading engine.
Daniel Pusateri wrote LZF’s banking engine and other high-security interfaces. At the age of fourteen, he already had started operating websites with high traffic.
The LZF markets are designed in such a way that traders get compensated for orders placed. The more units of currency ordered the higher the compensation. Orders also accumulate royalties depending on how long they are left before traded out.
LZF’s structure is similar to the software as a service platform. The company has developed banking relationships with over 30 banks across the USA, where it only manages the trading platform and ledger while the bank’s role is to act as the custodian of the funds. According to the company, all funds deposited are FDIC insured.
LZF also instituted the KYC approval process for every US citizen. Those who are interested in using the LZF fiat services are automatically requested to fill out a form as well as submit a photo for identification.
The trading platform is available to US citizens in all the states except those in New York. Trading is open 24/7 and the engine processes more than 500,000 new orders in a second.