SIX, SBI-backed crypto market AsiaNext partners with Colt

AsiaNext, a joint venture between Swiss exchange SIX and the digital assets arm of Japan’s SBI Group, has partnered with Colt Technology Services to support high-frequency trading of AsiaNext’s crypto assets and derivatives.

The Singapore-based firm said on Thursday it has partnered with Colt to use its Multicast Market Data in the Cloud and PrizmNet services to offer AsiaNext clients the ability to trade its various products at institutional speed.

The firms said in a statement the faster trading afforded by the Colt technology is another step in “bridging the gap between mainstream finance and secure digital assets trading”.

Russell Toop, Colt’s Team Lead, Capital Markets Asia, said: “It’s an incredibly exciting time for Asia, as regulatory clarity helps it become a global hub for the crypto ecosystem, and we’re very proud to be named one of the first digital infrastructure partners for AsiaNext."

Toop added: “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.”

AsiaNext, which has secured its Capital Markets Services licence from the Monetary Authority of Singapore and is awaiting its Recognised Market Operator, aims to offer institutional investors the ability to list, trade, clear, settle and custody various crypto assets.

Yuen Keng Yin, chief technology officer at AsiaNext, said: “We are delighted that through Colt’s breakthrough capital markets solutions, our institutional investors will be able to quickly and easily access the benefits of a modern and trusted trading venue for digital assets. Their solutions support our investors in securing their position in this rapidly-growing market, so they can optimise their digital assets trading strategies and open up exciting new opportunities for their clients.”

Asia is fast-evolving as a key region in the global digital assets market.

CME Group, which has emerged in the past two years as one of the key US-based markets for crypto assets, said on Thursday it will launch next month its first Bitcoin and Ether reference rates based on Asian prices, the Chicago-based group's first Asian crypto products.

GFO-X and LSE Group-owned LCH said in April LCH’s Paris-based arm LCH SA will clear GFO-X cash-settled bitcoin futures and options when GFO-X goes live in the fourth quarter of this year.