London-based fintech Elwood Technologies and traditional finance giant Bloomberg are going to make it easier for institutional investors to trade crypto-currencies together. Why this is good news for the ecosystem as a whole
An alliance between Elwood and Bloomberg
With this new partnership between Elwood Technologies and Bloomberg, the arrival of institutional investors in our ecosystem is another step in the right direction.
The integration of Elwood’s solution will be an enhancement to the Bloomberg Asset and Management Investment Manager (or Bloomberg AIM), a software tool used by 15,000 clients managing $17 trillion in assets. The upgrade will provide access to more liquidity, better market data than the current version and is scheduled for release in the second quarter of this year.
Bloomberg and @elwood_io today announced an integration to enrich cryptocurrency capabilities for institutional investors, bringing together Elwood’s trading platform and Bloomberg AIM. https://t.co/Lr2dNut6WO
– Bloomberg Terminal (@TheTerminal) February 24, 2022
It should be noted that the crypto asset trading company already sells its services to giants like FTX. This is what makes it a great fit for Bloomberg, which wants to put the most sophisticated tools in the hands of its clients:
“Our goal has always been to provide clients with the cutting-edge capabilities needed to manage their entire investment portfolio in an integrated manner, and this increasingly includes alternative asset classes such as cryptocurrencies. “
Elwood Technologies’ place in our ecosystem
Elwood is a London-based fintech founded in 2018 by billionaire investor Alan Howard. It specialises in the development of crypto asset trading tools in a business to business (B to B) model. That is, you don’t trade directly with them, but some of the platforms you use on a daily basis can connect to their services via API keys.
James Stickland, Elwood’s current CEO, expressed his views on the Bloomberg tie-up:
“This is a great partnership for us.
This strategic partnership continues to fulfill our mission to provide access to digital asset markets in a way that institutions have come to expect. We look forward to working closely with Bloomberg to simplify institutional access to the cryptocurrency markets. “
Interestingly, this kind of news is positive for our ecosystem. This is because the more institutional players come in, the more total capitalisation increases and thus helps to reduce market volatility, making the market healthier in the long run.
