XTRADE.IO Announces Institutional Dark Pool Product, XTRADE DARK

NEW YORK, NY / ACCESSWIRE / February 28, 2018 / XTRADE.IO, a company building a new infrastructure to bring mature Wall Street technologies to the world of cryptocurrency, announced the launch of XTRADE DARK for Q2 2018. XTRADE DARK is a non-display dark pool product that will allow institutional liquidity to transact quickly and anonymously, without moving traditional crypto markets in a trusted environment.

XTRADE DARK will serve to match large crypto buyers and sellers directly in a trusted environment, eliminating the needs for multiple middlemen and lowering large transaction costs from 10-15% when factoring discounts and commissions down to sub 1% levels. On a typical large $1b order, that translates to savings of over $100m per order.

XTRADE is partnering with existing financial institutions to facilitate fiat transactions such as BTC vs USD in addition to the traditional crypto vs crypto transactions such as ETH vs BTC. By working with established banks and trading firms that can custody large deposits of fiat, XTRADE is able to ensure that XTRADE DARK participants can safely and easily wire substantial fiat deposits to a trusted banking custodian with institutional caliber services and KYC/AML procedures and be able to transact with similar populations of block crypto asset firms seeking liquidity for their holdings, fiat or otherwise.

XTRADE is leveraging the decades of principals’ knowledge in Wall St technologies, institutional services, and infrastructure to deploy a proprietary, non-lit matching engine to facilitate the XTRADE DARK product.

“We get calls all the time from large crypto investors and institutions seeking to buy and sell thousands of Bitcoins worth tens of millions of dollars. There needs to be a better way that doesn’t involve OTC brokers charging exorbitant commissions or having to dump large orders on illiquid crypto markets with unacceptable slippage,” said Alexander Kravets, CEO of XTRADE.IO. “By leveraging our existing suite of technologies and institutional connections, we can decrease the trade commission cost by 10x and reduce slippage for large participants by several orders of magnitude.”

XTRADE DARK liquidity will be composed of not only the actual participant’s assets but also will be added to by leveraging partnerships with external non-display sources of liquidity that currently exist in the crypto space. Other liquidity sources include decentralized exchanges, XTRADE’s proprietary SPA liquidity aggregation, daily block cross events occurring at public exchanges, aggregated retail and institutional order flow sourced from worldwide multi-asset class execution systems, and additional partners to be announced at a later time subject to non-disclosure terms.

By integrating XTRADE DARK into XTRADE.IO’s suite of services catering to algorithmic traders, active market participants and by leveraging liquidity aggregation use cases, a holistic environment of battle-tested financial technology will rise to mitigate the frictions that are currently a hallmark of the cryptocurrency trading space, providing traditional financial market participants with easy onramps to the hyper-accelerated digital asset environment of 2018.

About XTRADE.IO

XTRADE.IO is a technology company founded by veteran Wall Street trading specialists that are introducing a new infrastructure that would allow banks, hedge funds, and large institutional traders to easily access cryptocurrency markets.

The company is proposing a three-stage solution to solve these and some of the many issues that are a barrier of entry for large, institutional or professional traders. By building a low-latency infrastructure with a unified FIX API, a technology used on Wall Street for over 25 years, along with a standalone trading platform and liquidity aggregation the company will provide precise and virtually instant pricing data while minimizing ‘slippage’ for the trading of digital assets.

To learn more about XTRADE.IO, please visit https://xtrade.io.

Video: https://vimeo.com/255721337

Contact Information:

XTRADE.IO
Alexander Kravets
646-971-9286
outreach@xtrade.io
https://xtrade.io

SOURCE: XTRADE.IO

ReleaseID: 491147