Accelerating Institutional Growth Through the Acquisition of Altonomy | by Daniel Bookstaber | @blockchain | Mar, 2022

I’m pleased to share that we’ve acquired the OTC trading and executions business of Singapore-based Altonomy to accelerate the growth of our institutional business. 2021 was a watershed year for institutional interest in crypto. Our business saw over $4B in loan originations, over $10B of trading volume, and hundreds of newly onboarded clients.

There is so much growth ahead, so we’re excited to add Altonomy’s proprietary execution technology, expert team, and clients to the Institutional business. While our long history in crypto makes us a go-to for core large cap crypto trading, such as Bitcoin or Ethereum, Altonomy is a leader in altcoin spot trading. In fact, last year alone Altonomy executed over $16B in OTC volume, specializing in high-growth altcoins.

Founded in 2018 by veteran traders with decades of experience in both TradFi and crypto, Altonomy specializes in providing liquidity for alt coins with integrations to both centralized finance (CeFi) and decentralized finance (DeFi) liquidity venues and trading technology that provides excellent execution for clients. Together we count more than a thousand clients across funds, crypto projects, and sophisticated investors. The deal also means that 26 members of the Altonomy team will join, dramatically scaling our execution capabilities, time zone coverage, and product coverage.

Altonomy Co-Founder Tony Sun, who built the business and oversees trading, joins as the Co-Head of Institutional Trading. We’ll also welcome Yaqing Bie, who runs engineering and built the OTC and execution platform, who will become Head of Execution Technology; Altonomy’s Head of Compliance, Benjamin Toh will become Head of Compliance for Singapore; and institutional sales leader Ervin Lim will become Head of Asia Sales.

To make good on our mission to build a financial system for the internet that empowers anyone anywhere to control their money, we need to accelerate institutional adoption. I can’t wait to see what our teams accomplish together.

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