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AlgoTrader, a leading algorithmic trading software provider, and Avaloq have partnered to take another step into building a global digital asset management ecosystem. The purpose of the global digital asset management ecosystem is to enable banks and other financial intermediaries to be prepared for the coming paradigm shift for crypto custody and trading.
The cryptocurrency market is around for 10 years already but it only got wordwide mainstream attention in early 2018, after Bitcoin peaking near $20,000 and the total capitalization of the market surpassing $800 billion. Now financial institutions are increasingly looking to offer cryptocurrency trading and custody soutions for a growing number of clients interested in investing, paying, trading, and holding digital assets.
AlgoTrader is offering a solution that fits into intermediaries’ existing front-to-back office workflows and can be seamlessly integrated into their infrastructures, systems and processes. The solution is flexible enough to adapt to the rapidly evolving tokenized securities and digital asset industry. It was developed by AlgoTrader, a specialist in trading and execution infrastructure for smart-order-routing, execution algos, quantitative research, trading strategy , strategy backtesting and automated trading for both traditional securities and digital assets. The infrastructure will be available at avaloq.one fintech marketplace.
Avaloq is using AlgoTrader’s solution is available to its extensive banking and wealth management clients worldwide to manage their automated crypto trading and to get access to all major crypto exchanges through a robust FIX API.
Martin Greweldinger, Chief Product Officer at Avaloq, said: “The partnership with AlgoTrader is another important element in our growing ecosystem avaloq.one. Their capabilities enable our clients to gain access to multiple exchanges and brokers for crypto trading in order to get the best execution price. Partnering with a firm like AlgoTrader through our ecosystem is a key part of Avaloq’s strategy. We strongly believe in a collaborative ecosystem which allows our clients the seamless integration of leading fintechs and regtechs into their banking landscape through our avaloq.one platform.”
Andy Flury, CEO & Founder of AlgoTrader AG, commented: “With its 158 global clients Avaloq is a key player in today’s banking sector and we are very happy to partner with Avaloq for an end-to-end digital asset trading platform. Together, we will lay the groundwork for the next level of evolution in the fintech sector leading to an all DLT/blockchain based banking landscape.”