Avelacom and Interxion to Provide Low-latency Services in Dublin for Crypto Traders and Institutions
Avelacom has announced the introduction of their latest point of presence (PoP) in Dublin. The objective of this move is to match the increasing demand of the Irish market, which has recently seen the flourishing of companies involved in fintech and cryptocurrency trading.
The new PoP will work with Interxion Holding NV, the preferred data center partner to Avelacom. Interxion is a leading provider of cloud-based storage solutions in Europe. Avelacom, on the other hand, is a company that provides IT solutions to clients in the financial services industry. The role of Interxion is in this partnership is to reduce the latency in Avelacom’s Dublin network.
Apparently, Interxion was chosen over other similar firms because of their vast experience both internationally as well as in the Irish market. Indeed, Interxion has several connections with prominent institutions across the European market.
According to Avelacom, the majority of cryptocurrency companies uses Amazon cloud storage solutions. Incidentally, Amazon’s servers are located in Dublin. This means that Dublin has to improve its data flow to ensure that such firms operate seamlessly.
The first step to improving data flow is decreasing the latency in trading platforms. This is the primary reason behind the partnership with Interxion, as mentioned earlier. With lower latency, market making and arbitrage will certainly improve. This results in higher profits for all participants in the crypto trading sector.
Aleksey Larichev, the CEO of Avelacom, expects the thriving of cryptocurrency trading platforms in Dublin to inspire companies in the financial industry to set up in the Irish capital. Another factor that could well influence financial companies to move to Dublin is Brexit. The uncertainty surrounding this issue is expected to push businesses from the UK, and neighboring Ireland will certainly be an ideal alternative for such companies.
The influx of final service providers in Dublin has increased the demand for low-latency services in Ireland. Daniel Rosario, a manager at Interxion, said that their extensive network of partnering companies is useful to platforms with which they work together. He concluded by saying that their partnership with Avelacom will contribute significantly to the development of Ireland’s financial services industry.