In the developing digital economy, institutional solutions to cryptocurrency investment continue to rise. On Aug. 22, Blocktrade Technology and Valens Bank confirmed a partnership that will give banking clients access to crypto fund trading.
The Growing Prevalence of Crypto Funds
Artificial intelligence-based trading software company Blocktrade Technology Ltd. has partnered with Valens Bank to enable crypto fund trading for banking clients.
The partnership stipulates that Blocktrade Technology will license its BTT Crypto Trading Toolbox software exclusively to Valens Bank, allowing clients to trade select cryptocurrency funds.
Blocktrade Technology is a majority-owned subsidiary of Stockholm IT Ventures AB (SITV), a Swedish technology company specializing in blockchain development, and is now seeking to expand into financial services.
The partnership marks the second agreement between Valens Bank and SITV.
In a press release, Fredrik Waijnstad, managing director at Blocktrade Technology, said:
“We are proud to deliver our first license deal with Valens Bank. The agreement is perfectly in line with Blocktrade Technology’s strategic goals and approach for Institutional investors and banks who aim to offer great returns on investments.”
Valens Bank, an international payments and financial services startup, will give retail investors unique access to cryptocurrency funds trading that is not currently offered elsewhere. Blocktrade Technology will also receive a 1.5 percent yearly license fee on all “deployed capital” generated from the trading program.
Expressing optimism for their new partnership, Torben Pedersen, director of Valens Bank, noted:
“It’s an exciting time to partner with Stockholm IT Ventures and Blocktrade Technology’s innovative approach to the crypto space. We are confident that this software will offer great value to clients and give pro-traders the market edge all are looking for. We have made a thorough due diligence of the BTT software in live trading situations and are amazed by its performance.“
In the coming months, Blocktrade Technology will work with Valens Bank to integrate the software into the startup’s “back-end mechanics” and plans to release the service in September 2018.
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