XTRD and CEX.IO Exchange To Start Partnership Offering Trading Services for Institutions
The crypto market is booming in 2019 and institutional investors are appearing because of this. For this reason, there are several companies uniting now to catch the institutional investors. XTRD, a tech company, has decided to start a new partnership with the international CEX.IO in order to reach out for them.
XTRD is a fairly new company. It was created in 2017 by people who were experienced in forex trading, derivatives and equities. The focus of the company is in providing the technology for financial companies which are focused on the financial market.
The company has specialists who are focused on brokerage services, clearing, settlement, automated trading, market data and now it is going to focus more on the blockchain.
CEX.IO, on the other hand, is an international company that has got nine money transmitter licenses so far and it acts in 28 of the U. S. states. The company is somewhat older, being created in 2013 and was one of the first crypto exchanges to allow its clients to buy crypto with debit and credit cards. The company has 2.7 million registered users.
Now, the two firms will work together. XTRD will integrate its services with the crypto exchange, which will bring out the most from both companies this way. According to the press release, the new partnership will see all XTRD products being integrated into CEX.IO and the CEO of XTRD, Alexander Kravets, to assume as the U. S.-based CEO of CEX.IO.
According to him, the collaboration between them will help them to service institutional clients better and to create new exciting products. All the products of the XTRD ecosystem will continue to exist and new products will be created, but now also offered on the other platform.
One of the advantages is that CEX.IO is already compliant in several countries and states, so the company will widen its reach when offering solutions to investors.
The press release states that the two companies will jointly offer products for the institutional clients of CEX.IO and that the XTRD market data will be used with a unified DIX API. All XTRD clients will also be able to open accounts on CEX.IO easily. Basically, the main goal of this integration was to take the best of both worlds and offer to the clients that both companies already had.
By combining one company’s liquidity with the technology of the other, the heads of the companies hope to allow professional traders to access several liquidity pools and to free them from all the common headaches of using a single platform that provides no access to the greater market.
Clients will also be able to use the XTRD token in order to pay for services and purchase things using the network.
According to Oleksandr Lutskevych, the CEO of CEX.IO Global, this partnership is set to be the foundation of a whole new line of institutional services. Institutional clients require only the best, so by uniting their talent, the two companies are ready to take on this new challenge and give the clients the quality that they need and deserve.
The first product to be launched by the company will be the Single Point Access, which is expected to be ready for launch in around a year from now.