Thomson Reuters Partners with CryptoCompare For New Contact with 50 Crypto Tokens
Thomson Reuters is known for providing information and news to the all of Canada, and they will now be tracking many crypto assets. This change comes from a new partnership with CryptoCompare, which will help them record the necessary details on their desktop finance feed.
With this collaboration, there are 50 crypto tokens from “trusted” exchanges that CryptoCompare will organize, taking in their order book and trading data. Once collated, the information is provided to the investors that visit the Eikon platform through Thomson Reuters, as per the press release on the program.
By providing institutional investors with “reliable insight” for these different tokens on the market, they can come up with educated decisions. Thomson Reuters gives the ability to make their predictions based on the “high degree of probability” that the token has to thrive.
The director of strategy in innovation and blockchain at Thomson Reuters, Sam Chadwick, expressed the company’s role in helping their customers to thrive in this industry.
“Despite the decline in the price of many of the leading cryptocurrencies during 2018, we continue to see increasing demand from our customers for pricing coverage of the major names. … This partnership puts pricing data for this emerging market alongside other asset classes, giving our customers a more comprehensive trading view in Eikon.”
CryptoCompare has been tied in with Thomson Reuters since the company was part of a blockchain hackathon, which happened in September 2016. With this new information available to customers, Thomson Reuters also has a service that they started offering in May this year.
The AI technology searches through news articles and social media posts that could help the investor see what is going on in the industry to make their decision. In June, this search engine expanded the search to cover 100 separate cryptocurrencies in the articles.