Instimatch, a Swiss-based platform for institutional short-term money market trading, and Algorand, a proof-of-stake blockchain, today announced they are working together on solutions for regulated payment networks with advanced solutions powered by blockchain.
Algorand’s blockchain technology will complement Instimatch, empowering it to add a variety of new features and offerings focused on payments, Islamic banking, and RegTech.
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. 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,” said Daniel Sandmeier, CEO at Instimatch.