A major factor holding back the movement of digital assets into the financial mainstream is the difficulties faced by major financial institutions in trading and holding those assets. Bitfinex, one of the world’s largest cryptocurrency exchanges, is going some way to solving those issues with a new partnership, announced today, with Swiss company Market Synergy GmbH.
Market Synergy specialises in connectivity and security solutions for financial institutions like banks, brokers, and exchanges. It describes its offering as easing “the fragmentation of connectivity in the 24/7 cryptocurrency market” and giving institutions “a secure, robust and reliable network for cryptocurrency trading.”
Bitfinex bespoke network
As a result of the partnership Market Synergy has built what is described as a “bespoke network” solely for Bitfinex business, hosted in a data centre in Switzerland’s “crypto valley.” As well as offering hosting and connectivity to Bitfinex, Market Synergy will also “manage co-location services for Bitfinex’s institutional clients” and offer digital trading through a FIX feed.
Bitfinex CTO Paolo Ardoino said that the exchange was “very pleased to collaborate with Market Synergy” to improve “access to digital assets via Bitfinex.” He added that Bitfinex was “experiencing first hand the immense institutional interest in cryptocurrency trading” and that he was thrilled “to be able to pioneer its development.”
James Banister, Market Synergy’s CEO, said that his company had “spotted a gap in the market for an institutional calibre cryptocurrency connectivity offering” and that the aim was to become “the leading institutional outsourced connectivity provider in the cryptocurrency space.”
Bannister revealed that the two companies had worked together closely on choosing an appropriate infrastructure and data centre, resulting in “a bespoke network with connections to their digital asset gateway for professional traders.”
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