eToroX, the blockchain subsidiary of global investment platform eToro, today announced the launch of its institutional-grade API trading programme, AlgoX Prime.
AlgoX Prime is the top-tier API program of eToroX Exchange, the eToro Group’s regulated and secure cryptoasset exchange. Employing the deep liquidity of eToro, tight spreads, and bespoke capabilities for cryptoasset trading, AlgoX Prime is carefully tailored to suit the needs and requirements of institutional-grade algorithmic traders from both the traditional and crypto spheres.
The program offers highly competitive fees, a free enterprise-grade market data package, and a high-quality, low-latency colocation service that incorporates professional-level connectivity, enabling direct access to eToroX’s dedicated, high-security data centre. The continuous and ongoing rollout will include an ever-expanding list of cryptoassets, increased volume from eToro, and much more.
From the Consensus invest:Asia event in Singapore, Doron Rosenblum, eToroX Managing Director, said: “AlgoX Prime, our new API trading program, offers sophisticated trading capabilities to institutional and corporate traders. We believe that it will open the door for institutional traditional financial algo trading companies to trade cryptoassets, and by doing so, greatly increase market liquidity.”
“The AlgoX Prime trading program aligns with eToro’s strategy of bridging the gap between blockchain and the traditional financial markets,” said Yoni Assia, CEO of eToro. “The ability to trade using APIs will help steer institutional traders to connect to the crypto market, and to utilize eToro’s high-trading volume.”
“It is highly significant that we are launching AlgoX Prime API trading programme today in South East Asia,” commented Jasper Lee, Managing Director of eToro Asia. “The market in this region is highly dynamic. People are very involved with crypto, and we believe that developments such as our new API program will greatly help facilitate mass adoption.”
SIGEF Brings Inclusion to Davos and a Supportive Vision for a Smarter Future for the World
Sharing the same concerns and goals with the leaders of the global economy who will be gathering in Davos to pave the way “for a Cohesive and Sustainable World,” SIGEF by Horyou has opted to showcase its own commitment to sustainability through the organization of a side-event to offer a complementary and supportive inclusive vision for a better world.
Building on its “Together Shaping a Smarter Future” theme, SIGEF will add social innovation and global ethics to the Davos gathering. The event will take place on the morning of the 22nd of January at the Kirchner Museum. It will kick off with a networking breakfast. Four panels will make the program of the event. They will tackle some of the most challenging issues that the global economy is faced with.
Disruptive Technologies, the Future of Finance, the UN Sustainable Development Goals and Women Empowerment are the topics to be debated. “SIGEF has always been tackling the most important global issues and we are thrilled to initiate high-level discussions around them before Davos’ qualified audience. In the wake of this new technological age, we aim to contribute to the building of a smarter future for the world as we are bringing together, in their diversity, some of the actors who are leading the positive changes we want to see,” says Yonathan Parienti, founder and CEO of Horyou, organizer of SIGEF.
Some of the confirmed SIGEF Speakers include: Ms Karen Wilson, OECD Strategic Partnerships, Ms Katja Iversen, President of Women Deliver, Mr Charles Bendotti, Senior Vice President People & Culture Philip Morris International, Mr Jérôme Perez, Global Head of Sustainability Nespresso, Ms Ann Cairns, Executive Vice Chairman Mastercard, Ms Christine Spite, Tech entrepreneur and WWF Advisor, Dr. Nikolaus S. Lang, Managing Director and Senior Partner at Boston Consulting Group, Mr Xiaochen Zhang, President of FinTech4Good, Mr Adi Mimran, Venture Partner Cyrus AI, Dr Tomabechi, Innovator and Tech entrepreneur, Ms Vera Futorjanski, Innovation Expert and Advisor, Mr Vincent Subilia, Director General, Geneva Chamber of Commerce & Member of the Geneva Parliament, Anna Kletsidou, Head of Social Sustainability & Human Rights at Philip Morris International.
Outlook for Canada’s venture capital market remains robust: KPMG in Canada
Canada’s venture capital (VC) market crossed the US$1-billion threshold in the fourth quarter for the second time in a row to finish 2019 at an all-time record of US$4.6 billion, according to KPMG Private Enterprise’s quarterly Venture Pulse report, a global analysis of venture funding.
“It is really a testament to the growing maturity of Canada’s venture capital ecosystem,” says Sunil Mistry, partner, KPMG in Canada. “The tech ecosystem in Canada is now more independent and self-sustaining than ever before. I don’t anticipate deal activity slowing down anytime soon.”
Canadian VC investment totalled US$1.17 billion in the fourth quarter, up 30 per cent from the year-earlier period and down 34 per cent from a record high of US$1.77 billion in the third quarter. The number of closed deals were lower at 109, compared to 151 in the previous quarter, but were bigger in size.
The fourth quarter was powered by sizeable deals from 1Password, a Toronto-based password manager, Coveo, a Quebec City-based artificial intelligence startup, and Nuvei, a Montreal-based payment processing company.
“The Coveo funding round highlights the strength of Canada’s AI innovation ecosystem, which has spread well beyond its traditional innovation hubs of Toronto, Vancouver, Montreal, and Waterloo,” says Mr. Mistry. “At a sector level, fintech continues to be a dominant area of interest for investors – both from an investment perspective and from an M&A perspective – in part due to the strength of Canada’s banking and financial services sectors.”
Family offices continue to play a key role in Canada’s VC market, particularly in early-stage deals between US$1 million and US$5 million, he says.
Despite global economic headwinds, trade disputes, and potential uncertainty from this year’s U.S. Presidential election, the outlook for VC investment remains positive. “I don’t see much changing going into at least the first half of this year,” says Mr. Mistry. “A lot of funds already have their next fund monetized. They need to spend the money, and they’re looking to stay away from any volatility in the public markets.”
The U.S. remains the epicenter of VC activity, accounting for more than half of global VC investment in 2019, the report says. As 2020 unfolds, deal activity is expected to remain relatively steady, with areas like artificial intelligence, biotech, and fintech remaining very hot. According to the report, private valuations in the U.S. remain near-unprecedented highs, similar to if not eclipsing those seen during the dot-com era, driven in part by availability of capital.
While there are no signs of activity slowing, U.S. investors are becoming more discerning about where they put their money after mixed results from last year’s debuts of newly public companies. “We’re already starting to see investors pay a lot more scrutiny on the unit economics and business models,” says Mr. Mistry.
Unlike in the U.S., valuations in Canada continue to be competitively priced, which is helping to attract U.S. investment and fuelled later-stage funding. “Investors will keep investing where the economic climate makes the most sense, where the deal sizes are more reasonable, and where the venture ecosystem is reliable, and Canada checks off all of those boxes,” says Mr. Mistry.
SOURCE KPMG LLP
ID Ventures Partners with Google Developers Launchpad to Accelerate Michigan’s Tech Startups
ID Ventures, the venture team of Invest Detroit, announced today that it has been selected by Google Developers Launchpad to be its first continental U.S. partner in providing scaling resources to local and statewide startups.
Operating a global acceleration network across Latin America, Africa, Europe, Asia and Puerto Rico, Google Developers Launchpad will work in conjunction with ID Ventures, Michigan’s most active seed-stage investment team, to leverage talent, programming and services for economic growth.
The ID Ventures Powered by Google Developers Launchpad initiative will provide an opportunity for Michigan startups to access Google’s global network, insights from the company’s Silicon Valley-based startup programs, and 20 years’ worth of Google research and best practice insights on building businesses, products and teams at massive scale. ID Ventures was chosen because of Michigan’s robust startup ecosystem in which the team is firmly rooted, providing capital, programs, mentorship opportunities and support to early-stage startups in Detroit and across the state.
“This is truly a win for our local startup community,” said Patti Glaza, managing director of ID Ventures and executive vice president of Invest Detroit. “The partnership will give access to industry experts, startup training and needed services that will help our companies scale and successfully exit, moving us even closer to our vision of making Michigan a startup and technology hub for the Midwest.”
Markets outside of Silicon Valley are increasingly impacting the global startup and technology ecosystem. Though it is easier than ever to start a company, access to success methodologies, expert mentors, and ecosystem best practices for building companies remain unevenly distributed. As Google is a thought leader in building and scaling products and businesses using the most advanced technologies, this partnership and its resources will help ID Ventures’ portfolio companies, which includes some of the fastest-growing companies in Michigan, and other startups in the community scale exponentially.
Google Developers Launchpad focuses on developing companies and their ecosystems over the long term.
“Google is thrilled to expand our partnership with ID Ventures and its exceptional startup portfolio” said Kevin O’Toole, Google’s Head of International Growth for Launchpad. “The Powered by Google Developers Launchpad program is about empowering startup communities around the world and helping them leverage each other for insights and resource sharing. We are thrilled to expand this program into Detroit and the state of Michigan.”
SOURCE ID Ventures
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