Kaiko Partners with OANDA to Develop Auditable Crypto Asset Pricing

On January 27, Kaiko, a crypto market data provider, announced a partnership with OANDA, a global forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term and CFD broker, to develop auditable pricing for digital assets to enhance asset valuations for clients and meet financial compliance requirements. The partnership combines Kaiko’s extensive crypto market data comprising of 13,000 spot pairs with OANDA’s exchange rates for 38,000+ currency pairs and 200+ currencies to bring auditable digital asset data products.

The partnership is important as it enables both OANDA and Kaiko’s clients to get the most accurate prices for both crypto Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term and fiat currencies. The service will enable OANDA users to get auditable cryptocurrency and fiat prices powered by Kaiko’s crypto market data. Meanwhile, the service will allow Kaiko users to get access to OANDA compliant FX rates (following all IFRS and US GAAP standards) through a dedicated cryptocurrency/fiat and fiat/fiat FX triangulation endpoint. The launch announcement of the new product will be made in the forthcoming weeks.

Gavin Bambury, the CEO of OANDA, stated, “We are pleased to be partnering with Kaiko, the leading cryptocurrency market data provider. As corporates are increasing their engagement and use of cryptocurrencies in daily business activities, adding accurate and transparent cryptocurrency rates is a critical milestone in our market data offering.”

Meanwhile, Ambre Soubiran, the CEO of Kaiko, added: “We are glad to partner with OANDA to bring IFRS and US GAAP compliant exchange rates to Kaiko’s data services. Auditable FX rates are essential to a number of financial activities, and it was important for us to link Kaiko’s digital assets market data to a reliable FX data provider like OANDA. Ensuring the best data quality all along the path from crypto exchanges to fiat will reinforce our ambition to create a consolidated data offering, bridging traditional and crypto finance.”

Kaiko Is Working to Provide Investors with Real-Time Data

The development by Kaiko happens at a time when the fintech startup is continuing to expand financial opportunity and inclusion globally. It does this by empowering market players within the digital finance landscape with actionable transparent and accurate cryptocurrency data to be leveraged for various market activities, including integrations, analytics, valuation, strategy backtesting and in-depth research.

In January last year, Object Management Group (OMG) tapped Kaiko as the certified provider of Financial Instruments Global Identifier (FIGI) to help standardize cryptocurrencies in the data market. FIGI provides open standard unique identifiers for financial instruments, thus reducing the confusion with many financial market data providers. The data standard is used by exchanges, market information providers and also third-party platforms. With the increase of institutional adoption, the demand for crypto data is rising. This has called for the demand for standard crypto-asset identifiers.

In June last year, Kaiko raised $24 million in a Series A funding round led by Anthemis and Underscore VC. The company used the funding to accelerate its expansion into North American and Asian markets. Furthermore, the firm used the capital to facilitate the launch of its Kaiko Stream, a data service designed to connect institutional market players with crypto data feeds.