On Wednesday (November 27), CryptoCompare, a leading cryptoasset market data provider, announced that institutional clients of BT Group's Radianz Cloud now have access to its comprehensive suite of digital asset data products.
CryptoCompare, which was founded in 2014 and is headquartered in London, provides retail and institutional investors with reliable real-time and historical cryptocurrency market data. One way it tries to insure the integrity of its data is by reviewing crypto exchanges on a monthly basis, monitoring for market abuse, and taking regional anomalies and geographical movements into consideration. Two examples of major financial data providers that rely on CryptoCompare are Thomson Reuters and MVIS.
As for Radianz Cloud, it is "a community of thousands of brokers, institutions, exchanges and clearing and settlement houses." A few examples of its members are CBOT, CME, OMEX, NYMEX, and ICE US. On February 27, BT announced that cryptocurrency exchange and custodian Gemini Trust LLC had joined the BT Radianz Cloud community.
Crypto is the latest asset class to be added to Radian Cloud's list of supported asset classes (Agriculture, Energy, Equities, Foreign Exchange, Interest Rates, Real Estate, Weather, OTC, and Fixed Income).
Members of the Radianz Cloud community can "reliably access thousands of applications and services from more than 400 providers critical to the every-day running of the global financial sector via a "a single, resilient and secure network connection engineered for the exacting demands of the financial markets industry."
CryptoCompare's partnership with BT Group will allow institutional clients of Radianz Cloud to "gain access to a comprehensive market data offering including reference rates, trade and order book data across more than 150,000 cryptocurrency trading pairs."
According to CryptoCompare's press release, Michael Woodman, the Managing Director of BT Radianz, had this to say about his company's new partnership with CryptoCompare:
Adding CryptoCompare to the Radianz Cloud offers our established institution clients access to a reliable and granular dataset for the fast-growing digital asset class. It creates new opportunities for institutions with ambitions for growth and helps provide transparency in the digital asset market.
Charles Hayter, Co-Founder and CEO of CryptoCompare, stated:
As the digital asset class matures, increasing numbers of institutions are exploring the opportunities this industry offers. By providing access to CryptoCompare’s trusted datasets via the secure BT Radianz Cloud, we will encourage greater confidence in this fast-growing asset class.
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