PR87498

ZÜRICH and BOSTON, Jan. 8, 2021 /PRNewswire=KYODO JBN/ --

  -- Algorand welcomes award-winning fintech platform to growing

     ecosystem of users

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.

Logo - https://mma.prnewswire.com/media/1229493/Algorand_Logo.jpg

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.

CONTACT: algorand@dittopr.co

Source - Algorand