Cryptalgo Holdings AG, based in Zug, Switzerland, has partnered with blockchain advisory firm NKB Group to “address the growing demand from institutional investors for crypto trading, brokerage and asset management services.”
Cryptalgo was founded by former Head of Derivatives Distribution for EMEA & LATAM at UBS AG Francisco Portillejo Hoyos. His goal is to build Cryptalgo into a best-in-class global cryptocurrency trading platform.
Portillejo said they recognize NKB Group’s management team has “the same DNA” as they do coming from the banking world. Cryptocurrencies have started to generate significant interest from institutions in 2017 and 2018, but only with properly robust, compliant and institutional-grade tools can the industry realise its full potential for investors said Portillejo.
Under the partnership, NKB Group will use Cryptalgo’s Order Execution Management System (OEMS), “Algotrader” product, OTC and custody services for its clients. Cryptalgo will extend its asset management and advisory offering through NKB Group’s regulated fund and investment banking platform.
Both firms claim a deep traditional finance lineage having been founded by senior executives from UBS, Barclays, Saxo Bank, Renaissance Capital, Goldman Sachs, Deutsche Bank and Nomura. The two companies says they combine traditional banking experience with a knowledge of digital asset management and trading. They want to put this knowledge to work to assist institutional investors in taking advantage of cryptocurrencies as an alternative asset class with low correlation to other classes.
Cryptalgo’s “Galaxy backbone platform” was set to connect global cryptocurrency exchanges and aggregate liquidity to offer financial institutions “best price” and “best execution” required for high-volume trading – which is what institutional money needs and wants.
NKB Group’s services include wealth and asset management, brokerage, ICO (Initial Coin Offering) advisory, and principal investment working with corporations, institutional investors, family offices and HNWI.
Chris Baxter, CEO of NKB Group, said they selected Cryptalgo’s trading platform as it was superior to other options.
“NKB Group’s offering is built from our first-hand knowledge of the requirements of institutions, and our desire to provide our clients with the best possible products and delivery. CRYPTALGO boasts an incredibly sophisticated offering suite, which will allow our clients to maximise returns on their crypto investments, as part of a well-diversified portfolio.”