Apifiny has launched its digital asset trading execution platform for professional traders, Apifiny Connect. As the name suggests, the platform connects more than 20 exchanges with one account, one API, and one onboarding.
Via Apifiny Connect, professional traders can trade over 100 asset pairs at lower fees and instantly transfer digital assets between sub-accounts, eliminating the need to maintain reserves on multiple platforms, the firm announced.
Unifying highly fragmented digital asset trading markets into a single, global market, provides a global trading experience with access to best prices and deep liquidity as well as lower costs.
The 20+ exchange partners include Crypto.com, Huobi Global, OKEx, Kucoin, AscendEX, HBTC and Blockchain.com’s Exchange among others.
Haohan Xu, chief executive officer of Apifiny, commented: “Bitcoin and other cryptocurrencies may be more global than Apple stock or even USD, but they’re traded in a very localized way with regional exchanges dominating their respective markets.
“This creates many isolated liquidity pools and significant differences in digital asset prices, which has slowed institutions and professional traders from capitalizing on a huge, global trading market opportunity. Through Apifiny Connect, we are solving this problem and creating one, unified global digital asset market for professional traders.”
The platform’s REST/Websocket API gives professional traders, OTC desks, brokers, and market makers faster access to trade and easier reallocation of assets across a wide array of global exchanges using one set of APIs.
Apifiny Connect features one account with direct access to over 20 order books to execute global trading strategies, with one onboarding and one deposit.
The platform’s colocation with connected exchanges reduces latency as its distributed servers are close to the top exchanges in various time zones. Allowing to transfer and rebalance with a single API saves regulatory compliance time and costs.
Institutions can also execute global strategies and transfer digital assets instantly between sub-accounts, such as buying on one platform in Europe, instantly transfer crypto to a platform in the US in seconds, and sell, with no need to maintain reserves on multiple platforms. All with a single, normalized market data feed. No need for multiple market data feeds with multiple exchanges.
Apifiny’s ExOne Plus market making solution includes the top 5 US digital exchanges and 23 of the top 100 global digital exchanges by trading volume on its customer roster.
Apifiny has recently made the headlines for hiring ex-Goldman Sachs Jason Jiang as chief technology officer as the global digital asset trading and mining network prepared for its public offering.
The industry veteran has designed and built professional trading solutions for many years, including ultra-low latency trading and risk management systems and co-location, exposure to the full technology stack from hardware, networking and full software development life cycle (SDLC) to automated trading controls.
The new Apifiny CTO will be the technical lead at the firm as it develops its digital asset trading platform for professional traders across a wide range of exchanges and across the globe to maximize global liquidity, best prices, and profits.
Jiang joins Apifiny from Goldman Sachs, where he was Vice President and led technical development efforts within the company’s Global Markets Division, overseeing Quantitative Trading, Electronic Market Development, and Custom Algo Research groups.
He also played a leading role at Blackrock, where he was a vice president and software development manager for the Financial Modeling group. There, he designed and developed BlackRock’s Fixed Income Analytics System (ANSERTM) from scratch.