Electroneum Introduces Market-Making Services in Partnership with AlgoZ for Huobi Global
Electroneum has announced a partnership with AlgoZ to introduce marketing-making services to their coin listed on the Huobi crypto exchange. The Fingenom Group Company will avail an automated liquidity solution for the coin.
Richard Ells, the CEO of Electroneum, said that they were enthralled by the listing of the ETN token on the Huobi digital trading platform. He added that they collaborated with AlgoZ because their previous deals with Liquid and KuCoin turned out well. Ells concluded by saying that he believes that ETN holders will cherish the partnership with AlgoZ because it guarantees liquidity.
The Fingenom Group was established in 2011 with the aim of developing trading algorithms and related infrastructure for clients in the capital markets sector. The increasing adoption of digital assets inspired the company to launch a new subsidiary in 2016, called AlgoZ. The role of AlgoZ was to offer services such as brokerage, market-making and OTC solutions for financial institutions.
Nir Dovrat, a co-CEO at AlgoZ, said that the partnership with Electroneum is in line with their company’s objective of working with industry leaders in the crypto space to increase the reliability, accessibility, and efficiency of the crypto economy. He also added that the collaboration shows ha the crypto world is confident in their services, as well as their team.
Electroneum is seeking to expand its services to cover the developing world. The majority of people are either unbanked or underserved by conventional financial institutions. The company aims to establish a digital ecosystem by encouraging such people to start using digital currencies.
In addition, Electroneum has introduced a crypto mining simulator for ETN tokens. Users can access this service by purchasing a blockchain-powered smartphone for only $80. As compared to its closest competitors, HTC exodus and FINNEY, the $80 price tag, is more than ten times cheaper.