Mercury: Turnkey branded OTC platform for brokers and exchanges taps Wintermute for liquidity

Rick Steves

“We both share extensive experience within traditional capital markets, which was a driving factor in deciding to work together.”

Mercury Digital Assets has 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 allow clients to create turnkey, branded OTC offerings for brokers, exchanges, bitcoins ATMs, and other sell-side firms that provide a 24/7 trading platform to clients using Wintermute’s liquidity, automating bid-ask spread mark ups, and other operational tasks, connecting to third-party custodians like Fireblocks.

Mercury’s OTC white label offering for brokers and exchanges

Tony Saliba, Chief Executive Officer at Mercury Digital Assets, commented: “The timing of our new collaboration with Wintermute could not be more perfect as we are seeing increased interest in accessing block-sized liquidity for trading a broader group of altcoins and tokens beyond Bitcoin, Ethereum, and other large cap coins. We both share extensive experience within traditional capital markets, which was a driving factor in deciding to work together.”

Evgeny Gaevoy, Founder and CEO of Wintermute, said: “The collaboration with Mercury Digital Assets is a great fit with our shared experience in the fintech industry and the growing importance of OTC trading in digital assets. Mercury have been a great partner for us throughout the integration stage and we look forward to onboarding counterparties that use BEACON platform.”

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.

Mercury caters to OTC desks, exchanges, professional trading groups, custodians, and asset managers and Wintermute is an algorithmic liquidity provider for institutional and retail investors across centralized and decentralized exchanges and OTC trading platforms.

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 joins 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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