Bitcoin futures and options exchange, Deribit has recently partnered with Y Combinator-backed, Mudrex to offer investors of all levels access to trading algorithms created by professional traders reports The Block.
To be more specific, Mudrex’s retail-focused crypto investors will now be able to use trading strategies without having to really comprehend the nature and/or complexity of the algorithms. The ability to offer an array of tools starts off with professional traders who are tasked with developing tools then submitting it to Mudrex, who then will decide whether it is appropriate or not for its client base.
Once approved, investors on the other end will simply have to select a trading strategy of choice, and their trades will automatically be placed on Deribit. The latter is possible due to Deribit’s integration with Mudrex in October of this year.
CEO of Mudrex, Rohit Goyal spoke of this endeavor, highlighting that the resulting service from this partnership will not be available for U.S. users (although they account for 30% of the platform’s users). COO and Co-Founder of Deribit, Marius Jansen also discussed said matters, adding that Deribit’s driving force is technology:
“At Deribit, we really focus on the technology, we think technologically advanced exchanges will have the biggest chance to survive.”
All-in-all, he underlined that their technology is what sets Deribit apart from the increasing number of exchanges entering the market.