Colt Technology Partners With Singapore’s AsiaNext
Colt Technology Services, an established player in the digital infrastructure sector, has unveiled a strategic partnership with AsiaNext, an emerging name in the crypto exchange domain.
News of the collaboration emerged on Thursday, with the partnership designed to harness the strengths of Colt’s secure and high-performance digital infrastructure solutions to foster high-frequency trading of various digital securities and crypto derivatives on the AsiaNext platform.
AsiaNext is a joint venture between Japan’s SBI Digital Asset Holdings and Swiss digital infrastructure firm, SIX Group. The entities behind the venture identified similarities in the regulatory approach taken in Switzerland and Singapore, and for that reason, AsiaNext was developed to grow the business in the city-state.
Accessing Multicast Market Data
The partnership will see AsiaNext leverage Colt’s Multicast Market Data in the Cloud. This service facilitates seamless connectivity between buyers and sellers, bridging the divide between mainstream finance and the secure realm of digital assets trading. The move takes on greater significance against the backdrop of Asia’s rapid ascent in digital asset trading and its central role in shaping global cryptocurrency regulations.
AsiaNext has been targeting institutional investors and aims to offer a comprehensive suite of services encompassing listing, trading, and post-trade functions for digital assets. The exchange is attempting to provide institutional investors with a secure platform for trading digital assets, bolstering the crypto derivatives market in the region.
Alongside Colt’s Multicast Market Data product, AsiaNext will also benefit from access to Colt’s PrizmNet, which enables low latencies for global delivery of data, software, content, and financial services.
Commenting on the deal, Russell Toop, Colt’s Team Lead, Capital Markets Asia, remarked: “Our partnership with AsiaNext demonstrates our firm commitment to capital markets in Asia and across the world, and we’re excited to be part of its journey at the earliest stages as it sets out to bring digital assets to the mainstream.”
Yuen Keng Yin, Chief Technology Officer of AsiaNext, echoed the sentiment by highlighting the transformative potential of Colt’s solutions for institutional investors, stating:
“Their solutions support our investors in securing their position in this rapidly-growing market, so they can optimize their digital assets trading strategies and open up exciting new opportunities for their clients.”
Working towards a full CMS license
AsiaNext has been making progress within the Singaporean market. In June, the local regulator and central bank, the Monetary Authority of Singapore (MAS), granted the institutional grade exchange regulatory approval in principle.
That Capital Markets Services (CMS) license is now on the cusp of full license approval from MAS. Furthermore, the firm is also working towards obtaining a Recognised Market Operator license.
These regulatory milestones all feed into AsiaNext’s overall goal, which is to offer a service which can bridge the gap between traditional finance and the digital assets space. In building out that offering, Marek Socha, Head of Corporate Development at SIX Group, said in an interview last year that important partnerships would be established by AsiaNext. No doubt accessing Colt’s service offering with this latest partnership is another step for the firm in reaching its objective.
