BANKEX Partners Devexperts for Institutional Crypto Product

The new broker-dealer and end-user oriented product is in development.

Real-world asset tokenization specialist BANKEX has just announced a partnership with Devexperts. The trading software developer will assist the blockchain startup to develop a project in the field of B2B and B2C crypto trading.

BANKEX has been developing a set of products designed to accommodate the needs of real-world assets for digitalization. The company is already providing frameworks for real estate, franchises, media, and entertainment. It also has developed a series of smart contract products aimed at payments, custodial services, supply chain management, and other uses.

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Devexperts has experience in delivering trading software for traditional capital markets. Its partnership with BANKEX is aimed at adding maturity to the crypto markets and delivering a product that can be used on an institutional level by broker-dealers.

Liquidity Fragmentation

BANKEX and Devexperts are focusing to tackle a hard problem for institutional investors in crypto. The liquidity fragmentation across digital assets is prompting significant changes to the space to address the issue.

While the number of exchanges has been growing through the roof during the past couple of years as the crypto boom unfolded, liquidity became scarce in many of those.

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The broker-dealer focused solution developed by the firms aims to define the business model, examine the operations lifecycle, necessary investments, jurisdiction, and many other aspects.

Commenting on the partnership, the COO of BANKEX, Dmitry Dolgov, explained that the firm was looking for a partner that has experience with both crypto and fiat money.

The second area of cooperation was made to power BANKEX’s new-generation B2C platform. The purpose of the software is again to interconnect fragmented crypto marketplaces.

With a depth of liquidity aggregated from multiple crypto exchanges, the goal is for traders to have the opportunity to see the best bid and offer, therefore achieving best execution.

“We have successfully concluded the first phase of the project. We believe that Bankex will raise the bar in the crypto liquidity sector, and we are excited to contribute Devexperts technology expertise to this initiative,” said the SVP of Software Engineering at Devexperts, Evgeny Sorokin.

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