Mercury Digital Assets (“Mercury”), the leading digital asset and cryptocurrency trading technology provider, announced today they have officially partnered with Wintermute, one of the largest market making firms, to provide their clients with access to Wintermute’s institutional-grade liquidity.
Mercury clients using their automated OTC platform solution (BEACON OTC) and their order & execution management system (BEACON) will now be able to access Wintermute’s liquidity for OTC cryptocurrency trading. The partnership will allow clients to create turnkey, branded OTC offerings for brokers, exchanges, bitcoins ATMs, and other sell-side firms that provide a 24/7 trading platform to clients using Wintermute’s liquidity, automating bid-ask spread mark ups, and other operational tasks, connecting to third-party custodians like Fireblocks, and more.
The partnership will add unique value for mutual clients of Wintermute and Mercury. The connection will provide access to over 20,000 digital asset pairs with no minimum trade size requirements that can be settled quickly in crypto or major fiat currencies, like USD, EUR, GBP, and more. This will give Mercury’s clients flexible options for coins that they can trade with Wintermute and incorporate into their trading strategies and client-facing offerings.
“The timing of our new collaboration with Wintermute could not be more perfect as we are seeing increased interest in accessing block-sized liquidity for trading a broader group of altcoins and tokens beyond Bitcoin, Ethereum, and other large cap coins,” said Mercury CEO Tony Saliba. “We both share extensive experience within traditional capital markets, which was a driving factor in deciding to work together.”
Evgeny Gaevoy, Founder and CEO of Wintermute said about the partnership, “The collaboration with Mercury Digital Assets is a great fit with our shared experience in the fintech industry and the growing importance of OTC trading in digital assets. Mercury have been a great partner for us throughout the integration stage and we look forward to onboarding counterparties that use BEACON platform.”
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