Then in July, the company partnered with BitGo to deliver a wallet solution for crypto exchanges. And it likely won't be the last crypto exchange to do so. Getting institutional investors as clients will become crucial for cryptocurrency exchanges to survive, Wall believes, and it will require significant adjustments. "Right now the cryptocurrency exchange market is very inefficient as there are no clearing technologies and clearing houses in place," Wall explained. But now they should learn how to wed established financial market practices with cutting-edge technologies, and the choice for them is "grow or die," Wall said.
A financial technology company that was founded a full decade before the bitcoin white paper came out is looking to help today's cryptocurrency trading platforms mature.
Cinnober, based in Stockholm, mainly provides tech solutions to traditional stock and commodity exchanges around the world. But this year it's struck a handful of deals with crypto startups – most recently the Bitstamp exchange, which announced this week it will be the first in the space to use the vendor's TRADExpress platform, alongside the likes of the London Metal Exchange.
And it likely won't be the last crypto exchange to do so. Cinnober says it's looking for other potential partners in the market and sees around a dozen that would fit its criteria for selection: the biggest trading volumes and an effort to gear up for serving...
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