Mercury launches Crypto OTC platform for brokers, exchanges, ATMs, and LPs

Rick Steves

The platform can automate parts of the trading workflow, such as marking up the bid-ask spread, pre-trade risk checks, and hedging FX risk.

Mercury Digital Assets has released its BEACON OTC platform, providing OTC desks, broker-dealers, exchanges, crypto ATMs, and liquidity providers institutional-focused services to power their trading in crypto derivatives and spot markets.

Specialized in crypto, the firm leverages decades of experience building financial technology products and value-enhancing trading ecosystems.

Its crypto OTC trading technology aims to deliver reliability, efficiency, and scalability as it looks to amplify its clients’ OTC business.

BEACON OTC: White label solution with workflow automation

Tony Saliba, Chief Executive Officer at Mercury Digital Assets, commented: “Your needs are our priority. At Mercury, we develop and provide customizable proprietary technology to fit the client’s needs ensuring anything they want can be designed, built, and delivered quickly to keep up with the competitive and fast-moving crypto assets world.”

The BEACON OTC system provides a white-label front-end platform that can be branded and customized with a unique user interface design or a white label delivered as a standalone platform or integrated into an existing platform for teams with limited technology resources.

Connecting to third-party components, such as OTC liquidity providers, crypto custody solutions, banking platforms, FX brokers, and risk & accounting systems, the platform can automate parts of the trading workflow, such as marking up the bid-ask spread, pre-trade risk checks, and hedging FX risk.

Partnership with Wintermute for liquidity

Mercury Digital Assets has recently partnered with Wintermute, one of the largest market making firms, to provide their clients with access to Wintermute’s institutional-grade liquidity.

The partnership will add unique value for mutual clients of Wintermute and Mercury. 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.

This 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.

Mercury’s clients’ will gain flexible options for coins that they can trade with Wintermute and incorporate into their trading strategies and client-facing offerings.

Last month, Mercury announced Seth Weber as Executive Vice President to address the continued growth experienced by the company, coming on the heels of a dozen of connections of crypto trading institutions, having provided crypto derivative trading solutions to clients around the world.

Weber will help continue with Mercury’s development of its product suite and the expansion of its customer base via his broad industry relationships.

He joined from the Mercury affiliate, Matrix Executions LLC., where he was Chief Revenue Officer, overseeing the near doubling of its revenue base and commensurate market share growth.

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