TrueDigital Holdings Signs Distribution Deals For OTC Reference Rates For Bitcoin And Ether
TrueDigital Holdings is an institutional digital assets platform, and they are working to improve the experience of its consumers with a greater reach of reference rates for particular crypto assets. The company recently signed two distribution deals, while allowing them to expand on the OTC reference rates that concern Bitcoin and Ether.
The news was announced on Monday, which included a new partnership between trueDigital, Kaiko, and Inca Digital Securities. Kaiko offers data on the crypto market, while Inca Digital Securities is a platform that collects data and analytical information. Both of these projects will be a necessary part of the expansion that True Digital has in mind, as both Kaiko and Inca will offer the BTC and ETH reference rates to TrueDigital customers.
CEO Ambre Soubiran of Kaiko commented that the mission of their company will be to create a structure that supports the data distribution that institutional investors will benefit from. With the partnership, Soubiran believes that the collaboration will help with “much needed” transparency in the data that they provide.
Inca’s access to the reference rate will allow them to create new analytics. Ultimately, the hope is that users will have access to pricing data that institutional investors would ensure a better experience in regard to trading and risk management.
The reference rates for OTC trading with TrueDigital were launched in July 2018, collaborating with nine firms that made the use of “institutional grade derivative products” possible. In January this year, the company added CMT Digital, Blockfills, and QCP Capital to distribute the reference rates. The rates were created by the 12 institutional partners with their bid and offer prices.
Last month, TrueDigital welcomed a new CEO from Bridgewater Associates, which is the largest hedge fund in the world. In December, the company launched a blockchain payments system for Signature Bank.