Digital asset trading firm STS Digital has acquired Swiss cryptocurrency market maker flovtec.
2024-08-14 07:29:20
On August 14, according to The Block, digital asset trading firm STS Digital has acquired Swiss cryptocurrency market-maker flovtec to expand its market-making capabilities and enhance its liquidity solutions. STS Digital, which specializes in over the counter and market-making, believes that the strategic acquisition of flovtec will "significantly accelerate its market-making services" as "it will provide deeper liquidity and smaller spreads to flovtec's existing customers", the press release said. Possible enhanced services 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 that this will "promote the development of new and innovative trading products and services". In addition, the regulation of flovtec in Switzerland may help STS Digital expand in the European market.
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