TL;DR
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Crypto trading platform CoinRoutes has completed the acquisition of QIS Risk in a deal worth $5 million.
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The combined platform will offer institutions execution across both centralized (CEX) and decentralized exchanges (DEX).
CoinRoutes Acquires QIS Risk to Bolster Institutional Crypto Trading Tools
CoinRoutes, an institutional cryptocurrency trading platform, announced on Tuesday that it has completed the acquisition of QIS Risk, a portfolio and risk management provider for digital asset managers.
The acquisition was completed for $5 million in cash and stock. The deal combines CoinRoutes’ algorithmic execution technology with QIS Risk’s suite of portfolio monitoring and risk analytics.
CoinRoutes is a leader in the crypto space for providing connectivity to over 50 cryptocurrency exchanges and 3,000 digital assets. Meanwhile, QIS Risk has integrated with over 70 trade sources to deliver real-time tracking and analysis.
By acquiring QIS Risk, CoinRoutes will offer institutions execution across both CEX and DEX. Institutions will also enjoy real-time portfolio and profit-and-loss monitoring, stress testing and counterparty risk tools, and options trade capture for Deribit and over-the-counter (OTC) positions. Furthermore, the combined platform will also extend to decentralized finance (DeFi), with tracking for staking and on-chain derivatives.
The deal will see QIS Risk founder Fred Cox become CoinRoutes’ global chief technology officer. Cox will oversee technology operations and expand the firm’s European presence.
While commenting on this acquisition, Cox stated that digital assets have reached an inflection point where institutions require enterprise-grade infrastructure across the entire investment lifecycle.
CoinRoutes co-founder and CEO, Ian Weisberger, added that combining CoinRoutes’ execution technology with QIS Risk’s analytics allows the company to offer a more comprehensive solution for institutional investors.
CoinRoutes has been around for seven years and has executed over $500 billion worth of trades since its inception.