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. With this partnership they want to offer extended liquidity and best pricing for institutional investors.
Covario and AlgoTrader have partnered to provide extended liquidity and digital asset 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 liquidity
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. 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.
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 90 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.
Accelerated crypto adoption
Covario's CEO Mark Banner commented that AlgoTrader’s state-of-the-art digital asset trading and management platform, connected to Covario’s aggregation of crypto solution providers will deliver a cost efficient and seamless trading experience. Through their combined efforts, they look forward to revolutionising the institutional digital asset space.
“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." - Andy Flury, CEO AlgoTrader
