LibertyX Now Using TradeBlock’s XBX Index

LibertyX, the U.S. bitcoin purchase network, has now begun to use TradeBlock’s XBX Index as their reference for bitcoin price referencing. The index, which has been active since April 2014 and available to the public since November 2014, uses leading bitcoin exchanges to provide a real-time USD-equivalent spot rate for bitcoin, updating once per second.

At the moment, LibertyX has over 10,000 locations of its “variable” and “fixed” stores in the U.S. for people to purchase bitcoin in flexible or set amounts respectively. Users can unlock higher purchasing limits by providing increased levels of identification information and purchases are fee-free for the first $1000. LibertyX also introduced the first bitcoin ATMs to the U.S., although they were later acquired by Coin Outlet Inc.

Along with the multitude of traders that use the XBX Index are companies which include Greyscale’s Bitcoin Investment Trust, Hedgy, BitMEX and Rebit.ph.