Google has announced it will start offering “Time Value Of Money” (TWoM) exchange options, and will be launching a “market-based” exchange later this year.
The exchange will be available to the public.
It will offer trading between “time value” (TV) and “value” (V), with the latter having a fixed exchange rate and price.
The latter will be based on a market-based approach that uses the time value of an existing bitcoin, the company said.
“As bitcoin becomes more widely accepted, we are excited to partner with the Time Value of the Future (TWoS) exchange and bring more value to the cryptocurrency community,” the company wrote in a blog post.
“We have long admired the work of bitcoin exchange operators like Bithumb and Kraken, and we look forward to providing them with a valuable service to their customers,” it added.
“Time Value On Bitcoin is an innovative, market-leading, and scalable exchange that provides investors with the opportunity to exchange their Bitcoin for other currencies at fixed exchange rates.”
The TWoS exchange is intended to be a simple, easy-to-use service that users can use to trade the Bitcoin for fiat currencies.
It will be operated by two different companies, the first is an exchange in San Francisco, which has over 1 million users and the second is a trading platform in New York, which currently has over 3.6 million users.
Bitcoin price fluctuations in recent months have caused a number of Bitcoin exchanges to halt operations, while the market value of bitcoin has also seen an increase in the past week.