Instimatch to Leverage Algorand Across Multiple Use Cases to Advance Institutional Settlement and Payment Solutions
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
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