As a seasoned researcher who has navigated the complex and rapidly evolving landscape of digital assets for years, I find this strategic collaboration between Algoz and Wincent to be a significant stride towards mainstream adoption of cryptocurrencies.
The digital asset investment company, Algoz, recently unveiled a strategic partnership with the regulated market maker, Wincent, who is also a leading OTC (Over-The-Counter) trading desk.
On October 30, Algoz disclosed information about their latest partnership through a press statement that was forwarded to crypto news outlets. This revelation is subsequent to Algoz’s recent alliance with Zodia Custody, which is backed by Standard Chartered.
Based on the news release, Algoz intends to utilize its alliance with Wincent to streamline the process of bringing in new investors. This strategic partnership means that investors like family offices who are interested in entering the cryptocurrency market through Algoz won’t have to convert their traditional currencies into cryptocurrencies first, a step usually required by many industry providers before investment can take place.
Wincent presents a way to overcome this barrier: Algoz users can now invest in Bitcoin (BTC), Ethereum (ETH) and other cryptocurrencies using Tether (USDT) or other fiat currencies like the U.S. dollar or euro. This partnership enables Algoz clients to immediately exchange their fiat currency for cryptocurrency, minimizing risks linked with dealing with unregulated entities.
Algoz mentioned that their partnership with Wincent facilitates the transformation of assets following pre-approved customer identity verification and anti-money laundering measures. Such regulatory standards are vital aspects of international cryptocurrency governance, widely recognized as fundamental to the expansion of the cryptocurrency sector by numerous market participants.
In order to maintain safety for customers as they enter and exit the industry, numerous participants are adopting precautions. Platforms that comply with regulations, such as Wincent, and institutional supporters like Zodia Custody are part of this strategy.
In this collaboration, our partner finds a crucial function in the implementation of our off-exchange settlement tool, Quant Pro.
Using Algoz, along with Zodia’s custody wallet and Wincent’s KYC and AML integration, provides an extra shield of security for the users.
Developing Quant Pro, our unique off-exchange settlement method with the help of Zodia, marked a groundbreaking moment for investors. This allowed us to substantially reduce risks associated with trades and management, such as exchange and counterparty risks.
Stephen Wundke, director of strategy and revenue at Algoz.
Wincent’s controlled market consistently processes daily volumes ranging from 3 to 5 billion dollars, and handles more than 300,000 transactions every day.
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2024-10-30 19:22