Cinnober is partnering with virtual currency processor and security specialist BitGo.
The capital markets software company said BitGo’s wallet solution will expand its trading and post-trade platform to provide an end-to-end secure, institutional-grade digital asset exchange solution.
Cinnober serves leading financial marketplaces globally with multi-asset trading and clearing solutions. Its Irisium offering also provides a market surveillance platform to help safeguard market integrity.
BitGo’s wallets and custodial services allow clients to store and transfer digital assets using industry standards for security and financial privacy, complete with security key management, multi-signature setups, setting of procedures and client-driven policies.
Cinnober said it will combine BitGo’s services with its own exchange technology and market surveillance expertise, to provide a reliable and proven, high-performance trading package to handle increasing market volumes, expectations from institutional investors and requirements from regulators.
“This cooperation strengthens our offering to cryptocurrency exchanges,” says Veronica Augustsson, CEO of Cinnober. “The cryptocurrency market has grown significantly in the past few years, and we’ve seen exchanges in this segment struggle with capacity, scalability challenges and repeated outages. There is an opportunity for Cinnober to support this market with proven trading and surveillance solutions used by established financial markets, and, with BitGo’s secure and reliable wallet and custody services, we can offer a competitive solution with short time-to-market.”
BitGo claims to be the market leader in institutional-grade cryptocurrency investment services, providing institutional investors with security, compliance, and custodial solutions for blockchain-based currencies.
It is the world’s largest processor of on-chain bitcoin transactions, processing 15% of all global bitcoin transactions, and $15bn per month across all cryptocurrencies. Headquartered in Palo Alto, California, and with offices in New York, London, Singapore, and Tokyo, the company has a customer base that includes the world’s largest cryptocurrency exchanges and spans more than 50 countries.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
