Bitfinex is one of the leading platforms for digital assets in the crypto world. Connamara focuses their attention on startups with the help of their matching engine technology. Between the two companies, there was an announcement released on May 14th, 2018 that indicated a joint project – Financial Information eXchange (FIX) digital asset gateway.
The goal of both Connamara and Bitfinex is to create a blockchain that has an open source, though their target audience appears to be professionals with digital assets to apply. With this launch, both companies want to make it easier for brokers, institutions, and professional traders to access their digital assets internationally.
The FIX digital access gateway has been around since the early 1990s, when it became the industry’s leading example for electronic communication protocols. Specifically, they established a standard with the way these protocols influence data transfers with financial institutions. FIX is mutually understood among many client systems.
Connamara Systems was chosen by Bitfinex as a “proven expert in FIX protocol,” using them to modify the design and development of the new platform. Paolo Ardoino, the CTO of Bitfinex, said:
“We are proud to be able to provide next-level access to global cryptocurrency markets. We aim to combine Connamara’s financial technology expertise with our experience to improve the efficiency of digital asset markets and allow for streamlined access to cryptocurrency trading.”
Over at Connamara, head of business development Daniel Curry, called Bitfinex a “pioneering firm” since 2012. Everything in this setup for the platform will be open-source and transparent on the blockchain, giving a chance for the community to contribute.
Since 2012, Bitfinex has offered support and services for traders and providers in the digital currency world. Connamara Systems, on the other hand, provides commercial support for anyone that uses QuickFIX, which is another open-source blockchain. They primarily work on software development and project management solutions.