Elysium Technology Group (Elysium), the U.S.-based leading innovator in trade processing solutions for Foreign Exchange and Futures, and CRYPTALGO today announced a strategic partnership to introduce cryptocurrency trading solutions to financial institutions.
CRYPTALGO is a Swiss-based fintech company specialising in high-end cryptocurrency brokerage services, algo-trading and cryptotrading for financial institutions.
Together, Elysium and CRYPTALGO will deliver a unique and comprehensive cryptotrading solution to Elysium’s clients, who currently trade $500 billion to $1 trillion of FX and futures every month through Elysium’s platform.
To address fragmentation issues within the crypto market, CRYPTALGO has developed its Galaxy ‘backbone’ infrastructure which connects global cryptocurrency exchanges and consolidates liquidity to offer financial institutions solutions such as "best price" and "best execution" uniquely designed for high-volume trading.
Andrew Siciliano, Chairman of Elysium Technology Group commented:
“In FX trading, money-making opportunities come and go very quickly. We believe this will be the same in cryptocurrency trading, and thus our mission is to build cryptocurrency trading functionality into our one-stop-shop platform and to integrate swift and best-execution capabilities. We believe CRYPTALGO has the knowhow, experience, and execution platform complementing the Elysium offering. The partnership is designed to deliver a comprehensive, high-end cryptocurrency trading solution for our clients.”
Francisco Portillejo Hoyos, CEO of CRYPTALGO added:
“We are delighted that Elysium, the market leader in FX post-trading platforms, has chosen to partner with CRYPTALGO as it looks to extend its offering into cryptocurrency trading. We see this partnership as another significant step in establishing CRYPTALGO as the de-facto high-volume crypto trading gateway for financial institutions as well as a liquidity aggregator.”
Interest from institutional investors for cryptocurrency trading continues apace in 2018, with the rising popularity of Bitcoin, alt-coins, ICOs and the launch of Bitcoin futures products at the end of 2017 by major exchange operators Chicago Mercantile Exchange (CME) and Chicago Board Options Exchange (CBOE).
Current estimations predict that the value of the entire cryptocurrency market will reach $1 trillion in 2018, with crypto the fastest growing asset class to date.