TrueDigital Holdings (TDH), a Fintech infrastructure provider based in New York, is partnering with cryptocurrency data firm Kaiko and digital asset analysis company Inca Digital Securities to expand the distribution of their over-the-counter reference rates (OTC) for Bitcoin (BTC) and Ethereum (ETH). This development was shared with Cointelegraph in a press release on March 25.
The previous facts
TrueEX created TDH as an affiliate in March 2018, immediately announcing a TDH partnership with the leading blockchain technology firm ConsenSys (created by Ethereum co-founder, Joseph Lubin) to create a rate of reference for the price of Ethereum.
The new forged strategic partnership agreement will enable Kaiko and Inca to distribute trueDitigal’s reference rates to their clients, including asset managers and institutions. In addition, Inca will reportedly use the OTC reference rates as a basis for further analysis.
Kaiko, which is based in Paris, reportedly collects and distributes its crypto-market data through a websocket, a REST API and a cloud-based data source to stimulate the global institutional commitment in crypto-industry.
About Inca
Inca – a self-described remote access company with locations in Washington DC, Tokyo, Paris and St. Petersburg – provides analysis for data scientists, finance professionals and government policy makers, as well as industries seeking to implement blockchain solutions.
As highlighted in the press release, trueDigital rates are derived from twelve institutional market-creating partners and are intended to prevent market manipulation by providing an accurate picture of the liquidity and pricing of institutional digital assets .
Nick Goodrich, director of business development at trueDigital, has issued a statement in which he notes that benchmark rates are aimed at contributing to the establishment of an institutional grade infrastructure for the trading of digital assets.
In his own statement, Kaiko has stressed the need to promote the transparency of data in the cryptosector.
TrueDigital, a true growth
TrueDigital states that before the new partnership, its OTC reference rates have already generated more than 17 million price points since its launch in July 2018, and are used by asset managers and other companies to determine prices, NAV calculations and to support index-based crypto products.
TrueDigital announced the appointment of former Bridgewater Associates operations director Thomas Kim as its new CEO in mid-February.
The momentum of infrastructure for crypto-industry continues to accelerate as the unconditional Nasdaq launched two new cryptocurrency tracking rates last month, designed to provide real-time cash or reference rates for BTC and ETH in USD.