Deutsche Borse is partnering with digital assets data provider Kaiko to extend its data offering to the crypto space.
The partnership will allow for Kaiko’s data feeds to be accessed directly by Deutsche Borse customers.
Kaiko chief executive Ambre Soubiran said the partnership would provide “high-quality and auditable” digital asset data.
“Established institutions like Deutsche Borse are essential in making cryptocurrency market data accessible to financial institutions,” she added. “We are looking forward to reinforcing this partnership further in the future, as demand for data in this new asset class grows.”
Kaiko monitors more than 100 exchanges in both the spot and derivatives markets, accounting for around 150,000 instruments.
The recent crypto crash has highlighted the importance of good data, said Alireza Dorfard, head of market data and services at Deutsche Borse. The exchange giant hopes the new partnership will further help enhance transparency in the asset class.
“The crypto market faces high volatility and price fluctuations. Therefore, many of our clients have a high demand for consolidated data from centralised as well as decentralised exchanges to develop useful crypto investment strategies. Our new offering fulfils this need, helps our clients gain a deeper understanding of the cryptocurrency market and allows them to analyse specific events,” he said.
According to crypto liquidity provider B2C2, options trading volumes for digital assets remain high as investors manage a market that is volatile even by crypto’s standards. The over-the-counter lending market, however, has been effectively frozen, with the market unable to price credit risk.
Market participants fear a “crypto winter” is upon the asset class. Vincent Mortier, chief investment officer at asset manager Amundi, recently told Financial News that “trust in most of the cryptocurrencies has been badly damaged”.
Bitcoin traded below $20,000 from 18 to 19 June for the first time since 2020 while ether bottomed out at $855. The two currencies are down 54% and 68% respectively from where they started the year.
As prices plunge, crypto businesses have also rescinded job offers and cut staff as they look to leaner times ahead.
To contact the author of this story with feedback or news, email Jeremy Chan