Matrixport’s prime brokerage business, Matrixport Prime, has formed a flagship partnership with digital asset platform for institutional crypto trading, Elwood Technologies.
The partnership falls in line with Matrixport’s ongoing commitment to develop and institutionalise improved financial services for its clients in the ever-changing digital asset space.
As part of the partnership, Matrixport Prime will utilise Elwood’s trading and execution software, while also providing its client base with access to Elwood’s crypto-native order and execution management systems (OEMS) and portfolio management systems (PMS) services.
“Elwood’s contribution to the institutionalisation of digital asset trading is unique and reflects the exemplary DNA of its founders, management and shareholders.”
“In addition to today’s exciting news, Matrixport will support Elwood with the development and adoption of an enhanced range of digital asset tokens to be used on the Elwood platform,” said James Stickland, chief executive of Elwood Technologies.
“Matrixport is one of the leading systemic players in the crypto ecosystem, founded by two seminal industry figures. We are extremely excited by this partnership and the value it will bring to both our firms.”
Earlier this year, Elwood Technologies secured $70 million in a Series A funding round co-led by Goldman Sachs and B2B investor Dawn Capital. The move demonstrated the increasing appetite from institutional investors in the cryptocurrency space.
“Elwood’s contribution to the institutionalisation of digital asset trading is unique and reflects the exemplary DNA of its founders, management and shareholders,” said Anthony DeMartino, chief executive of Matrixport US.
‘We will continue to focus on pushing the boundaries of what is possible in crypto prime services and further cementing our position as the industry’s gold standard.”
Matrixport and Elwood Technologies have both been shortlisted for The TRADE’s Digital Asset Player to Watch, Editors’ Choice Award – a new category this year. The full Editors’ Choice Awards shortlists can be accessed here.