Crypto trading and brokerage firm CRYPTALGO has teamed up with blockchain investment and advisory firm NKB Group to address the growing demand for crypto services from institutional investors.
As part of the deal, NKB Group will use CRYPTALGO’s order and execution management system (OEMS), the ALGOTRADER tool and over the counter (OTC) and custody services, while CRYPTALGO expands its buy-side outreach through NKB’s fund and investment banking platform.
“We recognise in NKB Group’s senior team the same DNA that we come from – ‘old school’ banking brought to a new asset class,” said CRYPTALGO’s CEO, Francisco Portillejo Hoyos.
Both CRYPTALGO and NKB Group were established by senior traditional banking and algorithmic trading veterans who have worked at major institutions including UBS, Barclays, Goldman Sachs, Deutsche Bank and Nomura.
“NKB Group’s impressive asset management offering will allow us to provide clients with an additional crypto investment service to mirror the high quality of our own,” Hoyos said.
“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.”
The blockchain specialist, which offers wealth and asset management services, brokerage, and initial coin offering advisory, explained that the firm chose to work alongside CRYPTALGO because its trading system is ‘superior to others’.
“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,” NKB Group’s CEO, Chris Baxter, added.