STS Digital acquires Swiss cryptocurrency market maker flovtec to expand its market-making capabilities

2024-08-14 15:15:10

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ChainCatcher news, according to The Block, digital asset trading company STS Digital has acquired Swiss cryptocurrency market maker flovtec to expand its market-making capabilities and enhance liquidity solutions.

The press release states that STS Digital specializes in over-the-counter trading and market making, and the company believes that the strategic acquisition of flovtec will "significantly accelerate its market-making services," as "this will provide flovtec's existing clients with deeper liquidity and tighter spreads." Enhanced services may include regulated custody, customized liquidity solutions, and trading strategies. The acquired company's trading infrastructure and proprietary algorithms will be integrated into STS Digital's existing platform. STS claims this will "facilitate the development of new innovative trading products and services." Additionally, flovtec's regulation in Switzerland may assist STS Digital in expanding into the European market.

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