Shift Markets & Alkemi Announce Liquidity Partnership

Partnership Overview

NEW YORK, Dec. 5, 2019 /PRNewswire/ - Shift Markets and Alkemi are joining forces to address digital asset market inefficiencies. Using Alkemi's protocol, the Shift Network of exchanges will benefit from better execution and more efficient pricing. With their partnership, they aim to drive efficient liquidity and depth while easing the pain of clearing & settlement for customers and the broader open finance economy.

Shift Markets has over 10 years of experience as a white-label digital asset technology provider and powers 70+ issuance & exchange operators around the world. Shift chose to partner with Alkemi due to their ability to provide additive institutional capital while improving operating experience for their white label customers.

Ian McAfee, Shift's CEO, views the partnership as "highly complementary to our continued expansion plans. Having experienced capital markets in multiple verticals, from FX to digital assets, we know what it takes to run a successful and sustainable operation. One of the most important infrastructure components missing in today's ecosystem is a prime brokerage platform made for open finance. Their custody-free approach to driving price-efficient liquidity while removing clearing & settlement headaches for our customers is one of the most innovative solutions we have come across to date."

Adding to Mr. McAfee's comments, Brian Mahoney, Alkemi's Head of Business Development & Strategy, noted that, "Shift's full-stack white-label offering and ECN is one of the best in the market when it comes to operating within both the primary and secondary digital asset markets. We are very excited to partner with a veteran technology provider like Shift Markets to address digital asset market inefficiencies around liquidity and settlement, thus empowering their customers to expand their business capabilities."

The two companies share the same view that the path to a $1 trillion market capitalization for digital assets will come through continued institutional adoption. Aligned on this mission, Shift Markets and Alkemi are highly complementary to one another as infrastructure solutions within open finance.

About Shift Markets

Shift Markets provides cryptocurrency exchange solutions, brokerage trading technology, aggregated liquidity, and tokenization services to a global clientele. Founded in 2009 and headquartered in New York City, Shift Markets also has locations in Europe and Asia. The team continues to leverage more than 150 years of cumulative electronic trading experience and an extensive FX broker network, recently launching more than 70 crypto exchanges while continuing to serve hundreds of clients in the FX space. For more information on Shift and our solutions, please visit our website. You can also ask any questions you may have in our Telegram channel and a team member will get in touch.

About Alkemi

Alkemi is an open finance prime brokerage platform, addressing a $4 billion immediate market opportunity to bridge the gap between traditional capital markets institutions and fragmented digital asset liquidity. The Company's infrastructure facilitates open access to liquidity and streamlines settlement for our customers (e.g. asset managers, market makers, & funds) and partners (exchange venues & third party providers), solving the problem of digital asset market inefficiency. Alkemi counts Outlier Ventures, Xpring, Coven.VC, 100x Advisors, Techstars and ARC Capital as it backers to date. For more information on Alkemi, please visit our website.

SOURCE Alkemi AI Inc.