Swiss InCore Bank integrates AlgoTrader’s digital asset order and execution management platform WIRESWARM to provide its institutional-grade crypto and digital asset trading for its banking clients around the clock.
AlgoTrader and InCore Bank announced their new partnership focused on broadening access to the digital asset markets for banks and institutions. The partnership provides the Swiss bank’s outsourcing and transaction banking clients with seamless access to the advanced order and execution management platform WIRESWARM – the flagship product of AlgoTrader.
Fully automated 24/7 digital asset banking
As part of the initial scope of the collaboration, InCore Bank integrated AlgoTrader’s digital asset trading platform into its existing infrastructure. A growing number of banks and institutional clients already using InCore's brokerage and custody services for digital assets now benefit from a fully automated 24/7 execution service for a broad number of cryptocurrencies and tokens.
The service is seamlessly integrated into the core banking solution of Finnova and into online banking applications, paired with near-real-time rates and valuations. As a further step in the implementation of its strategy, the Swiss bank will offer at a later stage direct market access for banks, asset managers and UHNWI in combination with its banking-grade custody service.
Best execution and deeper liquidity
InCore Bank is now capable of establishing automated execution across a range of liquidity venues, including exchanges, brokers and OTC desks, using advanced trade execution strategies. This enables its clients to benefit from best price execution for every trade. Furthermore, trading via WIRESWARM also offers a larger variety of instruments, giving clients access to a broader range of assets. This fits InCore Bank’s strategy to offer tokenized assets to institutional clients by using the Tezos and Ethereum blockchain.
"We are delighted to enhance our existing digital asset offering thanks to this cooperation with AlgoTrader. InCore Bank clients now have 24/7 access to deeply liquid global cryptocurrency markets through a range of venues, providing faster trading and settlement and supporting a wider range of assets. By making blockchain and cryptocurrencies more accessible and attractive to banks, there’s vast opportunity for future growth." - Mark Dambacher, CEO InCore Bank
AlgoTrader is a global leader in institutional-grade trading infrastructure, while InCore Bank is a one-stop business-to-business transaction bank offering a modular range of services for traditional and digital assets. Both organizations share the goal of making it easier for banks and institutions to onboard digital assets in a safe and compliant way.
