ZÜRICH and BOSTON, Jan. 7, 2021 /PRNewswire/ -- Instimatch Global, the award-winning digital platform for institutional short-term money market trading, and Algorand, a world-class blockchain powering secure and efficient frictionless exchange, are working together to disrupt the regulated payment networks with advanced solutions powered by blockchain. Instimatch and Algorand are both at the forefront of what future financial services and applications will be.
Instimatch Global is paving the way to reinvent the conventional ways in which money markets operate, primarily by phone and broker-based means. The Platform's global Network offers a more effective workflow, better pricing and the potential to diversify counterparty risk by linking borrowers with lenders digitally.
Algorand's cutting-edge blockchain technology will complement Instimatch, empowering it to add a spectrum of new features and offerings focused on payments, Islamic banking and RegTech.
Borrowing, lending and FX continue to grow and, with the implementation of advanced blockchain, can be more efficient and effective as the backbone of global economies. Instimatch is perfectly poised to bring enormous efficiencies to its customers, who currently process hundreds of billions of dollars in transactions each quarter.
"We are extremely pleased we've entered into this strategic partnership with Algorand, which enables us to leverage their blockchain technology and enhance our offering even further for our customers," commented Daniel Sandmeier, CEO at Instimatch. He also added, "The wide scope of this collaboration, which includes payments, Islamic banking and RegTech, will surely bring important progress in this space. We are confident of the success of the partnership as both Instimatch and Algorand embrace the vision of decentralized and frictionless finance."
"Instimatch and Algorand have a shared vision of what is required for advanced money market systems and FX that is more efficient and frictionless than today's offerings," said W. Sean Ford, COO of Algorand. "We are truly excited by Instimatch's initiative to build a bridge between new defi offerings and traditional financial applications."
About Instimatch Instimatch Global is an award-winning digital Platform for trading cash deposits across multiple geographies, sectors, and currencies, offering unparalleled market depth. The digital Network enables a global community of institutional borrowers and lenders, including banks, corporations, pension funds, asset managers, family offices, insurance companies, municipalities, etc., to directly engage with each other and execute on their liquidity needs – all within the convenient and easy to use Platform. Besides trading, users can also leverage the Network to make valuable connections, diversifying their lending portfolios and sources of liquidity. Instimatch operates out of Zurich, London and Doha, and currently has over 130 institutional clients across 20 jurisdictions. For more information, visit https://www.instimatch.ch/.
About Algorand Algorand Inc. built the world's first open source, permissionless, pure proof-of-stake blockchain protocol for the next generation of financial products. This blockchain, the Algorand protocol, is the brainchild of Turing Award-winning cryptographer Silvio Micali. A technology company dedicated to removing friction from financial exchange, Algorand Inc. is powering the DeFi evolution by enabling the creation and exchange of value, building new financial tools and services, bringing assets on-chain and providing responsible privacy models. For more information, visit www.algorand.com.