OTC cryptocurrency trading service Genesis Global Trading acquired the analytical firm Qu Capital.
Genesis will add Qu Capital's tools, including machine learning algorithm and other technologies, to existing products and new offerings, reports The Block .
“This is an attempt to strengthen our technological capabilities and intellectual potential in order to better serve customers in an increasingly competitive market ,” said Genesis CEO Michael Moreau.
Qu Capital was engaged in the application of "modern statistical methods to identify trade inefficiencies between asset classes."
The deal was the first acquisition of Genesis. The company does not disclose its terms.
Earlier, Genesis, in partnership with the custodial service BitGo, offered institutional investors access to high-frequency cryptocurrency trading.
Last year, the trading volume on the OTC platform increased by 50%.
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