Swiss crypto broker Bitcoin Suisse has purchased a minority stake of CoinRoutes Inc., a provider of pan-exchange smart order routing and algorithmic trading software.
The investment and a new director
Bitcoin Suisse announced the news on Oct. 22, specifying that it acquired a $3 million share of CoinRoutes. Niklas Nikolajsen, the chairman of the Bitcoin Suisse Group, became a member of the board of directors of CoinRoutes’s United States and Swiss entities.
Bitcoin Suisse had tested CoinRoutes’ Smart Order Routing and patent-pending Consolidated Best Bid & Offer offerings for a year prior to the acquisition to assess the products’ capabilities. The company eventually fully integrated the technologies into its own brokerage and trading platform.
Bitcoin Suisse in other news
Bitcoin Suisse recently introduced a range of developments such as a partnership with fintech firm Amun to launch a new cryptocurrency exchange-traded product on the country’s stock exchange SIX. In July, the broker also applied for banking and securities dealer licenses from Switzerland’s finance regulator.
Following the approval of the Blockchain Act by Liechtenstein’s Parliament on Oct. 5, Mauro Casellini, CEO of Bitcoin Suisse in Liechtenstein, outlined the importance of the Act, saying:
“The positive decision without dissent from the Liechtenstein government shows the importance of the ‘Blockchain Act’. The TVTG [the Act on Tokens and Entities Providing Services Based on Trusted Technologies] not only creates legal certainty for all market participants, but also heralds a new era, the token economy. With its pioneering role, Liechtenstein proves once again that it is the ideal location for FinTech and Blockchain companies and thus for us too, in the heart of Europe.”