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What Banks Need To Offer Crypto Custody And Trading To Their Clients

AlgoTrader founder and CEO Andy Flury, together with Jonathan Dakin from our trusted partner Fireblocks, presented last week at the Crypto Assets Conference (CAC) in Frankfurt on the topic of what banks need to offer digital and crypto assets to their clients.

Why should banks consider offering these new asset classes? Put simply, they allow banks to expand their offering and client base with this new, highly uncorrelated asset class. And, as the market continues to grow banks will have access to new revenue streams, something that should be very attractive and a counterbalance to today’s highly competitive, low-margin traditional finance environment. Getting involved with crypto currencies early is also a very good way to prepare banks to ultimately scale up to security tokens as they become available on secondary markets. In addition, we have demographic shifts that are influencing client profiles, especially the younger generation who already often hold cryptocurrencies, so why shouldn’t banks offer crypto custody? And, last but not least, having such an offering certainly helps position banks as innovators in the eyes of competitors and clients.

The audience also heard how AlgoTrader´s WIRESWARM advanced order- and execution management system (OEMS) provides a robust mission-critical gateway for trading and execution of digital assets. And, additionally, how it enables banks, brokers, OTC desks and market makers to connect to and interact seamlessly with the world’s most liquid and regulated digital asset and cryptocurrency trading and execution venues. Andy Flury and Jonathan also elaborate on the intersection of Custody and Trading and especially on how the Fireblocks Network can be used to transfer assets safely and securely to and from trading venues. With the Fireblocks Instant Settlement assets can even be transferred instantly to exchanges right before placing an order.

About the conference 
Since the first CAC more than 3 years ago, both the environment and the key players in the area of crypto assets, blockchain and DLT have developed a great deal. Together with executives, founders, investors and representatives from public authorities, these relevant changes as well as new areas were discussed at the CAC20B. During 3 days, visitors had access to keynote speeches, discussions, pitches and networking opportunities. The conference was held as a hybrid conference, with attendees present in person and online. The appeal of the conference was demonstrated by the fact that there were over 1300 online registration, and it was the first hybrid conference that can claim to have been a huge success. Congratulations to all involved.

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