Digital asset trading technology provider AlgoTrader and Swiss crypto-prime broker Covario are launching a partnership to strengthen their institutional offerings in crypto wealth management. They want to offer investors extended liquidity and the best prices.
Covario and AlgoTrader have partnered to offer buy-side and sell-side institutional clients expanded liquidity and coverage of digital assets, as well as best execution for cryptocurrency trading. With this strategic partnership, institutional clients of AlgoTrader’s unique digital asset trading and instruments platform will have full access to Covario’s leading prime brokerage service offering. The partnership aims to increase both companies’ reach among institutional investors and mutually strengthen their positioning in the crypto asset management market.
Easy access to deep liquidity
AlgoTrader, a leading technology provider for trading cryptocurrencies and digital assets, connects its trading platform with all Covario services. These can be used via an API integration. Thanks to this connection, AlgoTrader’s clients have access not only to Covario’s extensive network of centralized (CEX) and decentralized (DEX) trading venues, but also to various assets in the DeFi ecosystem.
Covario’s sophisticated trading platform was developed in Crypto Valley in Switzerland. It is connected to 90% of the world’s crypto market liquidity, eight of the largest market makers and major lenders. It also offers highly secure MPC-based custody technology. Covario has access to all major decentralized exchanges as well as the approved DeFi market Aave Arc. It is one of 30 companies whitelisted for a license. This allows institutional investors to participate in the DeFi ecosystem while maintaining the security of institutional investors. Covario strives to provide the European market with best-in-class aggregate liquidity at a 24/7 service level and with an uptime of 99.999%.
Prime Broker offers unmatched coverage of a growing list of tokens at higher volume, using tools developed in-house and designed for optimal performance. An example of this is the real-time tracking and streaming of 90+ token prices. According to a March 2022 study by Covario’s quantitative research team, Covario’s aggregate liquidity supply exhibited significantly and consistently lower spreads compared to the industry-leading centralized exchanges (CEXs) – for various trade sizes across a range of tokens such as ADA, BTC, DOT , ETH , LINK and more.
Accelerating crypto adoption
Covario CEO Mark Banner commented that AlgoTrader’s advanced trading and management platform combined with Covario’s collection of crypto solution providers will provide a cost-effective and seamless trading experience. Through their combined efforts, they look forward to revolutionizing the institutional digital asset space.
“We are pleased to add Covario, one of the leading institutional crypto brokers, to our list of leading trading venues for clients looking for convenient and secure access to the greatest liquidity at the best prices. Covario’s tailored solution will be of great benefiting our buy-side and sell-side clients. By expanding our connectivity offering with Covario, we will further strengthen our positioning on the global digital asset investment stage and accelerate market adoption by financial institutions.” – Andy Flury, CEO AlgoTrader