Partnership that delivers the first IOSCO compliant OTC crypto reference rates for Digital Assets to institutions
At trueDigital, our primary focus is bringing institutional-grade products to the crypto space, and over the last eighteen months, we have cultivated strategic partnerships with like-minded firms. We choose our partners thoughtfully with a focus on those who share our dedication to innovation and leadership in their markets.
With that in mind, we are proud to announce our newest partnership with data specialists Crux Informatics (“Crux”), a secure cloud-based platform and managed service that provides data delivery and operations at scale.
Through this partnership, trueDigital OTC cryptocurrency reference rates will be available to its institutional customers. Our indices will provide the crypto community with institutional grade pricing for Bitcoin and Ethereum, sourced from 12 leading OTC market makers. Together, trueDigital and Crux will vastly simplify the way institutions can achieve true price discovery in an opaque market.
Governed by IOSCO principles, these reference rates are the first of their kind and were designed for reliability and transparency. Market participants looking to better understand the price of BTC and/or XPT in institutional size can use them as an input to their trading systems, internal fair value calculations or net asset value calculations. With most large BTC or XPT transacting in the OTC market, indices based on retail pricing alone have been found to be less accurate and are potentially prone to manipulation, ‘flash crashes’ and excessive volatility.
This partnership provides trueDigital with a scalable alternative for institutions to access our products and services, fitting seamlessly into their workflow and technology solutions. Crux’s current and future customers are logical consumers of our offerings, and often overlap with firms we are already engaged with.
We are very excited to be working with an innovative company which shares our continuing commitment to bridging the gap between digital and traditional finance.