Multi-asset electronic trading solutions provider, smartTrade Technologies announced on Monday that the company has expanded its partnership with SBI Liquidity Market, one of the largest FX infrastructure solution and liquidity providers in Japan.
According to the recently expanded partnership, smartTrade will provide support for SBI FXTRADE’s cryptocurrency derivative trading operations. Additionally, SBI has shifted its trading facility into smartTrade’s Tokyo data center as part of the latest agreement.
SBI has been a client of smartTrade since 2013 when the financial services provider selected LiquidityFX as its connectivity, aggregation and smart order routing partner to achieve efficient execution.
Additionally, smartTrade highlighted the latest surge in retail and institutional crypto trading across the Japanese market. Both companies are planning to facilitate Japanese cryptocurrency traders amid the growing adoption of digital assets in the region.
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Commenting on the partnership expansion, David Vincent, Co-Founder and Chief Executive Officer of smartTrade Technologies, said: “This unprecedented and volatile year demonstrated the need for high-performance trading infrastructure capable of withstanding all circumstances. We’re pleased that what we’ve been able to offer leading companies such as SBI such resilience. Today’s announcement is a vote of confidence that we will continue to work together with our customers to deliver them the infrastructure they need to succeed.”
SBI’s Crypto Presence
SBI Group has expanded its presence in the crypto market significantly since the start of 2020. In October 2020, the financial services giant purchased the crypto exchange, TaoTao. Through the recent extension of its partnership with smartTrade, the company aims to accelerate its expansion in the cryptocurrency market.
“SBI has been utilizing smartTrade’s Connectivity, Aggregation and Distribution system for years to power our foreign exchange business. We are pleased to grow this relationship as we increasingly work to meet our clients growing requirements and desire to trade in a wide variety of digital currencies. smartTrade has been the best kind of partner – one that adapts with the business, supporting our change and growth,” Itsushi Morimoto, Executive Director, SBI Liquidity Market, said.