Crypto exchange FTX taps Centroid Solutions’ bridge

abdelaziz Fathi

FTX crypto exchange has announced a business collaboration with Centroid Solutions, which provides a wide array of services to brokerage firms, including risk management services, connectivity, aggregation, and regulatory reporting.

This alliance will see Centroid Solutions integrate FTX’s APIs for real-time market data and trading. The combined effort will also enable Centroid’s global client base to access a wide variety of crypto trading products and establish connections to FTX through its engine.

Centroid Solutions provides a wide array of services to brokerage firms. The company also delivers tailored solutions to crypto exchanges seeking improved risk visibility, including a proprietary bridge solution for connectivity. Its Centroid 24 risk management suite collects data and produces conclusions that help brokers understand their profitability on both A-book and B-book models of operation. Centroid Bridge now supports Binance, the world’s most influential exchange.

With its integrated approach to the market, Centroid Solutions is venturing deeper into what is a competitive space in the retail brokerage industry. In 2019, the company expanded its operations to Cyprus, which marked the fourth major geography since the firm established its presence in Dubai, Zurich and Australia.

“The connectivity to FTX is one of many integrations and functionalities that we have been working on, as we look to enhance our multi-asset connectivity capabilities of the Centroid Bridge Engine, to provide our clients more options to expand and grow their business. We will be sharing more exciting news on our solutions over the coming months.” said Cristian Vlasceanu, CEO of Centroid Solutions.

Despite the fact that the majority of digital asset exchanges are not currently classed as regulated marketplaces, there is a growing requirement for proven surveillance platforms in the crypto space.

Earlier in January, FTX.US had seen its valuation climb to $8 billion following the successful closing of Series A funding worth $400 million. The US-based affiliate of Sam Bankman-Fried’s crypto exchange is also an investor in New York City-based IEX Group, the eighth largest stock exchange operator globally.

FTX US took a bet and made a strategic investment in IEX Group as it aims to leverage its expertise and infrastructure to establish a regulated marketplace for buying, selling, and trading digital asset securities.

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