According to a freshly issued statement by the folks over at Fractal Wealth, the firm has officially agreed to become part of the OTC Exchange Network (OTCXN) — an institutional trading network that makes use of blockchain technology.
For those not in the know how, Fractal Wealth is a “digital asset proprietary algorithmic trading firm” that makes use of niche’ market strategies to source and offer its investors with amazing liquidity. Now, with the addition to the OTCXN Network to its list of partners, the firm will be able to offer its customers with yet another amazing source of liquidity.
In regards to Fractal Wealth joining hands with OTCXN, company CEO Carson Cook, stated the following:
“Counterparty risk and risk of centralized exchange hacking are some of the biggest barriers to institutional adoption of digital assets. OTCXN offers a great product that removes these risks and also provides efficient trading between counterparties. By allowing firms to keep their assets at their custodian, OTCXN also can help simplify the process of moving funds between trading venues.”
More on the Matter
Firms that make use of use OTCXN’s native technology are able to process over-the-counter (OTC) block trades without the incurrence of any major issues. The purpose of OTCXN is to provide crypto companies with “a clearing and settlement solution” that helps eliminate problems such as
- Settlement Risks
- Trading counterparty Problems
Not only that, the platform also provides a framework that is able to connect liquidity providers with one another.
On this latest partnership, OTCXN CEO Rosario Ingargiola, was quoted as saying:
“We are pleased to have Fractal Wealth join the OTCXN network. They represent a unique source of liquidity for our rapidly growing and diverse institutional client base. As an algorithmic trading firm, Fractal Wealth will benefit from the ability to trade programmatically on OTCXN’s ECN, LiquiMatch… All liquidity on the OTCXN network is actionable – or tradable – with Fractal Wealth holding a single collateral account at their custodian on the OTCXN network.”
In closing, it is worth mentioning that OTCXN is very close to deploying its ‘LiquiMatch’ module sometime during the first quarter of 2019. In its core essence, LiquiMatch is designed to serve as both a “Dark Pool and Lit Central Limit Order Book- hybrid- ECN” for a variety of different digital currencies.