Digital asset trading technology leader AlgoTrader and award-winning Swiss crypto prime broker Covario are working together to strengthen their institutional offering in the crypto asset management market.
Zug/Zurich – Covario and AlgoTrader have partnered to provide extended liquidity and digital assets coverage for institutional buy- and sell-side clients, as well as best execution for crypto asset trading. With this strategic partnership, institutional clients of AlgoTrader’s unique digital asset trading and orchestration platform gain full access to Covario’s leading prime brokerage service offering. The partnership is anticipated to extend both firms’ reach among institutional investors and mutually strengthen their positioning in the crypto asset management market.
Easy access to deep crypto liquidity – through both CEX and DEX
AlgoTrader, as a leading technology provider for crypto and digital assets trading, connects its trading platform to all of Covario’s services that are accessible via API integration. This connectivity allows AlgoTrader clients not only access to Covario’s vast network across centralized (CEX) and decentralized (DEX) venues, but also various assets in the DeFi ecosystem that can be accessed through the prime brokerage service provider.
Built in-house in Switzerland’s Crypto Valley, Covario’s sophisticated trading platform is connected to 90% of global crypto market liquidity, 8 of the largest market makers and major lenders, delivers a highly secure MPC-based custody technology, and more. Covario has access to all major decentralized exchanges, as well as to permissioned DeFi market Aave Arc as one of 30 firms whitelisted for a license – enabling institutional investors to participate in the DeFi ecosystem while maintaining institutional-grade security. Covario is committed to providing best-in-class aggregated liquidity to the European market at a 24/7 service level and 99.999% uptime.
Best pricing and unrivalled spreads
Covario offers unparalleled coverage of a growing list of tokens at higher volume, using tools developed in-house and designed for optimal performance, for instance the tracking and streaming of over 70 token prices in real-time.
According to a March 2022 study by Covario’s quantitative research team, Covario’s aggregated liquidity offering showed significant and consistently smaller spreads compared to those of industry-leading centralized exchanges (CEXs) – for various trade sizes on a range of tokens including ADA, BTC, DOT, ETH, LINK and more.
Accelerate crypto market adoption
Covario CEO Mark Banner commented: “AlgoTrader’s state-of-the-art digital asset trading and management platform, connected to Covario’s aggregation of crypto solution providers, delivers a cost efficient and seamless trading experience. Through our combined efforts, we look forward to revolutionizing the institutional digital asset space.”
AlgoTrader CEO Andy Flury added: “We are delighted to add Covario, one of the leading institutional crypto brokerages, to our list of top-grade venues for clients looking for convenient and secure access to the deepest liquidity at best rates. Thus, their custom-built solution will greatly benefit our buy- and sell-side clients. Through expanding our connectivity range with Covario, we’ll further strengthen our positioning in the global digital asset investment scene and accelerate market adoption among financial institutions.”
About Covario AG
Covario is an award-winning Swiss-based Crypto Prime Brokerage founded in 2019. Covario’s Prime Brokerage platform is a holistic solution for digital asset trading, algorithmic trading, clearing, financing and custody for institutional clients. Backed by a team of professionals with deep experience and understanding of institutional financial services, Covario’s offering combines asset protection and global reach with operational ease and efficiency. Visit: www.covar.io
AlgoTrader is the global leader in institutional trading technology for digital assets that covers the entire trade lifecycle from pre-trade risk checks to order generation, automated settlement and custody reconciliation – offering best-in-class infrastructure for financial institutions. By supporting direct market access, seamless custody and core banking integration as well as full trade life^cycle automation, the AlgoTrader platform streamlines digital assets trading. Developed by a team of trading system veterans and crypto asset experts, AlgoTrader offers integrated infrastructure solutions that meet the highest institutional needs. To learn more, visit www.algotrader.com.