TradeBlock is now the order management system and execution tool set for Cumberland Mining, an affiliate of principal trading firm DRW. Cumberland is provider of liquidity in bitcoin and ether digital currency markets.
The rapid growth of institutional digital currency trading has driven demand for a variety of products and services. The over-the-counter (OTC) digital currency market is growing rapidly by providing a network of deep, instant liquidity directly between institutions and their counterparties.
TradeBlock provides professional clients in digital currency markets with trade management tools, wallet integrations, KYC/AML automation, accounting tools, and exportable records, all on top of a suite of market and blockchain data.
Mike Komaransky, Head of Trading at Cumberland said:
“From post-trade processing to the very robust XBX index, TradeBlock has solved difficult issues and helped our trading desk focus on providing liquidity to our counterparties in the bitcoin and ether markets.”
Ishan Singh, Director of Analytics & Accounts at TradeBlock said:
“Today’s announcement marks another key milestone in our partnership with the Cumberland team and we’re excited to expand our platform solutions to Cumberland and its clients, building on the strong momentum thus far in 2016.”
The founders of Tradeblock in March established a new company, Axoni, focused exclusively on the permissioned ledger space and aimed at assisting financial institutions and developers to bring blockchain technology to global capital markets.