trueDigital Holdings, a New York-based institutional digital assets platform, has teamed up with Blockchain and Cryptocurrency-based firm Kaiko and digital assets analytics platform Inca Digital Securities to expand the distribution of its OTC (Over-the-Counter) reference rates for Bitcoin and Ethereum. The partnership will see Kaiko and Inca distribute trueDitigal’s reference rates to their customers, as well as asset managers and institutions. As reports noted, Inca will further utilize the OTC reference rates as the basis for new analytics.
The reports also noted that Paris-based Kaiko gathers and distributes its Crypto market data through a websocket, REST API and Cloud-based data feed with the aim of spurring global institutional engagement in the cryptocurrency space. On the other end, Inca, a self-described remote-only firm with footprints in Washington DC, Tokyo, Paris, and St. Petersburg, offers analytics for data scientists, finance professionals, and government policymakers, in addition to industries seeks to deploy Blockchain solutions. According to the company’s statement, trueDigital’s rates are derived from twelve institutional market-maker partners and are intended to prevent market manipulation by providing an accurate picture of institutional digital asset pricing and liquidity. In a statement, trueDigital’s Director of business development, Nick Goodrich stated that the reference rates aim to contribute to the establishment of institutional-grade infrastructure for digital asset trading.
Ahead of the new partnership, the FinTech infrastructure provider platform mentions that its OTC reference rates have already generated over 17 million price points since their launch in July 2018, and are used by asset managers and other enterprises for pricing, NAV calculations and to support regulated index-based crypto products. In mid-February, trueDigital Holdings announced the appointment of Thomas Kim, former Bridgewater Associates chief operating officer, as its new CEO