Quantreq Capital Markets, an international provider of cryptocurrency capital market services and the first crypto fund-only administrator with over $1 billion in assets under administration, announced today its partnership with blockchain technology developer and engineering firm Cryptonomic to further assist in the development, deployment, and support of its prime services group.
New York City-based blockchain developer Cryptonomic is led by a team of partners who also have backgrounds in traditional finance with firms such as J.P. Morgan. The firm has niche expertise in Ethereum, IPFS, Tezos and has done various blockchain projects including Arronax, Conseil and Tezori.
Tailored only for institutional cryptocurrency hedge fund managers, Quantreq’s prime services group will allow funds to open a single prime account and trade across the firm’s spectrum of counterparty exchange relationships via FIX connectivity utilizing its customizable trading algorithms for best execution.
Additionally, Quantreq’s prime services and fund administration clients will have access to its insured treasury hot wallet and cryptocurrency lending desk which is slated to debut in Q1 and Q2 respectively. The treasury hot wallet product was developed to allow funds to move ‘liquid’ cryptocurrency between exchanges in a fast, secure and insured environment that satisfies investors rather than requesting funds from a cold storage solution repeatedly with the possibility of missing trade opportunities with the amount of time slippage caused in deploying those digital assets.
Driving the lead with Cryptonomic is Josh Gibson, Head of Capital Markets at Quantreq. Josh comes from Venture Capital firm Bluenode Capital and Citibank’s Institutional Foreign Exchange desk in New York.
“As we have operated and grown in this ever-evolving new asset class, the improvement and creation of institutional infrastructure and capital market products is becoming more paramount in order to create efficiencies”