TrueDigital Holdings is an institutional platform based in New York. It supports digital finance globally. The fintech infra provider has partnered with Kaiko (cryptocurrency data firm) and Inca Digital Securities ( Crypto analytics firm) in order to attain the expansion of it’s over-the-counter (OTC) reference rates for Bitcoin (BTC) and Ethereum (ETH). The firm announced the news in a press release published on 25th March.
Ambre Soubiran, the CEO at Kaiko stated:
“Kaiko’s mission is to build the data distribution infrastructure for institutional involvement in the crypto assets industry. Our partnership with true digital will further this mission while also promoting much-needed data transparency.”
According to the press release, the data analytics platform can utilize the reference rates data in order to establish entirely new analytics. The primary goal is to offer users with institutional-grade pricing data which can help improve the quality of risk management as well as trading.
About Venture Firms
Based in Paris, Kaiko gathers and apportions the crypto market data through a REST API, WebSocket and cloud-based data feed to encourage institutional engagement in the crypto sphere across the globe. On the other hand, Inca with its meet up locations Tokyo, Paris, St. Petersburg, and Washington DC offers data analytics to government policy makers, finance personnel along with data scientists in order to facilitate the execution of blockchain solutions.
In partnership with nine firms, TrueDigital had launched OTC reference rates for BTC and ETH back in July 2018, in order to allow “institutional grade derivative products.” The firm again partnered with 3 more firms for distribution of its reference rates. The three firms are as follows: Block files, QCP Capital, and CMT Digital
The business development director at truedigital, Nick Goodrich outlined that the goal of the reference rate is to contribute to the development of institutional-grade infrastructure for the trading of digital assets. Thomas Kim is appointed as the new CEO at trueDigital in mid-February. He had served Bridgewater Associates known as the world’s largest hedge fund.