Bitfinex, a cryptocurrency trading platform, has struck a deal with Market Synergy GmbH (MS), a trading network that enables major institutional players to trade using cryptocurrency.
MS is a Swiss-based company and part of the FXecosystem Group which creates trading networks between institutional investors and its FXecosystem and Bondecosystem services providing access to FX and bond markets.
MS emphasizes that the demand for cryptocurrency is gaining a momentum and hence offers institutional players to partake in it. The company, which has access to markets in London and New York from Zurich, is the latest example of how Switzerland advances crypto and blockchain technologies. This month alone, the Swiss stock exchange announced that it is working on a ‘digital asset ecosystem’, SIX Digital Exchange (“SDX”), and is testing a blockchain-based voting system.
James Banister, CEO of MS, has thanked Bitfinex for its decision: “We are delighted to have been selected by Bitfinex, one of the world’s largest cryptocurrency exchanges to manage their global connectivity. We have worked very closely with Bitfinex to create a bespoke network with connections to their digital asset gateway for professional traders.”
Concurrently, Paolo Ardoino, Bitfinex CTO adds that he is pleased to collaborate with MS noting, “We are experiencing first hand the immense institutional interest in cryptocurrency trading and we are excited to be able to pioneer its development.”
The deal with MS shows that Bitfinex is determined to expand its presence on the market specifically by cooperating with institutional players. In May, the company announced a partnership with Connamara, “the premier provider of matching engine technology, to deliver an open-source FIX (Financial Information eXchange) digital asset gateway for professional traders wishing to enter the digital asset markets.”
Bitfinex believes that MS will strengthen this cooperation by offering a FIX feed and ISP link to the mentioned digital asset gateway. In May, Bitfinex, also announced the launch of Verge and Stellar Lumens on its trading platform. Besides, the platform along with Coinbase significantly facilitated and cheapened BTC transactions in February when it added SegWit.