NEW YORK, Jan. 16, 2019 /PRNewswire/ -- Altonomy, the leading cryptocurrency trading, advisory and asset management firm, today announced that it will provide OTC services to Grin and Beam, two new Mimblewimble-based Privacy Coins. As applause for Grin and Beam's recent and successful mainnet launch, Altonomy is the first sales and trading desk to add BTC, ETH and USD/USDT to its trading pairs with Grin and Beam.
Altonomy will utilize its global OTC network to assist both teams achieve mass adoption and overcome the challenges miners and coin users face by relying on the natural flow in the market.
"Bear markets often help foster true innovation," said Ricky Li, Co-Founder and Head of North America for Altonomy. "2019 is shaping up to be a year of innovation and we are currently reliving the 2015 birth of Ethereum. Altonomy embraces these technology advances and business applications, and believe Grin and Beam's successful implementation and mainnet launch are the first step to carry forward the torch towards empowering people with highly secure cryptocurrency privacy."
On January 15, 2019, the first block of Grin was found. Coupled with the release of Beam earlier this month, it represents the successful implementation of the Mimblewimble protocol, which was first introduced by an anonymous user "Tom Elvis Jedusor" and uses confidential transactions by Bitcoin developer Adam Back and the CoinJoin concept by Gregory Maxwell. With the above specifications and cryptocurrency innovations combined, Mimblewimble is able to achieve true privacy in simple payment by avoiding current address-based systems (like Bitcoin and Ethereum) and use bilateral communication between senders and receivers to create transactions.
Thus far, the Mimblewimble protocol has received a lot of praise from the blockchain community as privacy concerns and solutions have been a focal point of discussion. Current systems including Bitcoin, Zcash and Monero, still have transactional data recorded on public chain, while Mimblewimble uses CoinJoin design to hide all the transactional details and retain only the verification proof on chain.
Altonomy is a cryptocurrency trading, advisory and asset management firm. The company is the first dedicated sell-side trading desk with institutional-grade OTC, advisory and asset management services for the crypto market. Altonomy is founded by veteran traders bringing decades of experience from marquee brands including Goldman Sachs, Citibank, Morgan Stanley, PWC, CME Group, Credit Suisse, among others. Altonomy's global team and network, deep crypto market expertise and proprietary algorithms enable the company to be a trusted secondary market leader for customized liquidity management, OTC transaction services for crypto-to-fiat and crypto-to-crypto, and asset management solutions. Altonomy partners with many crypto projects, exchanges and investment funds, and has over 40 clients ranking in the top 200 by market cap. Founded in 2018 with headquarters in Singapore, Altonomy has offices in New York City and Beijing. For more information, visit altonomy.com or email OTC@altonomy.com with your name/company, requested amount and expected price.