BroadPeak Partners, a low-code data management provider, has exclusively licensed its K3 System, a data preparation, integration and orchestration platform, to CoinRegTech for 20 years.
Both companies announced the strategic investment on Tuesday in a statement.
With the licensing, CoinRegTech, a provider of regulatory technology to cryptocurrency and digital assets actors, will be able to expand its regulatory compliance services to the digital asset markets, the statement said.
The companies noted that the digital assets and cryptocurrency landscape will look entirely different in the next two years and only central providers who have a well-developed regulatory strategy will emerge market leaders.
Bruce Tupper, CoinRegTech’s Founder and President, explained that unprecedented changes happening in the digital asset industry will usher in a new era of investor protection.
These changes will also “open a new chapter in the $612 trillion financial market,” Tupper added.
“CoinRegTech is uniquely positioned to support the compliance obligations of service providers and participants in this novel marketplace,” the Co-Founder further noted.
On his part, Gordon Allott, BroadPeak’s Partners Founder and Chief Executive Officer, believes that CoinRegTech has the best grasp of where digital assets regulation is going.
With the partnership, Allot believes his company is marrying CoinRegTech’s expertise with its K3 system.
“A suite of regulatory products is ready to support the compliance needs of customers in the digital asset markets,” Allot said.
More on the K3 System
K3 is a low-code extract, transform and load (ETL) data platform that enables organizations to create data flows to and from files, applications, databases or data warehouses.
“K3 is designed to not only provide better technology, but technology that does not take an army of IT specialists to run,” K3 wrote on its website.
“As a registered alternative trading system for digital asset securities, we have comprehensive reporting duties into the Financial Industry Regulatory Authority (FINRA) Repositories. CoinRegTech and the K3 System provide us with a best-of-class reporting solution,” Pat LaVecchia, the CEO of Oasis Pro Markets, said of K3, according to the statement.
Meanwhile, Genesis Global Technology Limited, a low-code technology platform that helps financial institutions build new applications, in February raised $200 million in a Series C funding round led by Tiger Global Management.
Genesis said that it plans to use the new funding to expand the capabilities of its platform.
