The company onboards Bitfinex for off-exchange settlements.
It needs a minimum investment of $100,000 from professional and accredited investors.
Israel-based AlgoZ, a digital asset management platform, has launched Algoz Quant Pro, aiming to eliminate counterparty risks faced by investors, Finance Magnates learned exclusively. The company tapped the services of a custody platform and is using Bitfinex for off-exchange settlements.
Eliminating Counterparty Risks
"The wallet holds the coins entrusted and protects it from being hacked or malfeasant. It protects it in the way it would, but it's held in trust. It's not the asset of the custodian," Stephen Wundke, the Global Business Development Director at AlgoZ, explained to Finance Magnates. "The customer puts the coins directly into that wallet."
AlgoZ launched the product when several crypto exchanges were facing allegations of the comingling of customer funds. With such allegations, the US securities market regulator legally moved against Binance and Kraken, two major crypto exchange venues. Now-collapsed FTX, the second-largest crypto exchange at its peak, also used customer funds illegally.
"We've completely eliminated the exchange and management counterparty loss. So, if all three parties in this relationship go broke, the customer is never affected. They still retain their coins," Wundke added.
He further highlighted that similar products to reduce counterparty risks already exist in the market and added: "It's different because we've made it in such a way that we never touch the clients' funds. It never comes through us."
Rising Crypto Investment Demand
AlgoZ offers quantitative trading services with cryptocurrencies. It was established in 2016 by Tal Teperberg, who is now the Group CEO. Apart from the recently launched Quant Pro, the company also offers a few other trading strategies.
The products offered by the company are available to both US and non-US customers. However, only professional and accredited investors, with a minimum investment of $100,000 in cryptocurrencies, can opt for investment through AlgoZ's strategies.
"We are targeting affluent investors because they have to be accredited investors now. I think we might be able to change that in the future simply because we never touch the client funds," Wundke added.
Highlighting the flexibility of AlgoZ's offerings, Wundke said: "Customers can choose one of our strategies to implement, and if they want to change it, they can. We agreed that once a month, without any cost, they can change it."
"Customers can get back their invested cryptos anytime they want. Why should they have to wait 30 or 90 days to get back all coins or money, like they do with hedge funds? We want them to have it when they want it. If they want their coins back, they can have them back. All they have to do is inform us."
Israel-based AlgoZ, a digital asset management platform, has launched Algoz Quant Pro, aiming to eliminate counterparty risks faced by investors, Finance Magnates learned exclusively. The company tapped the services of a custody platform and is using Bitfinex for off-exchange settlements.
Eliminating Counterparty Risks
"The wallet holds the coins entrusted and protects it from being hacked or malfeasant. It protects it in the way it would, but it's held in trust. It's not the asset of the custodian," Stephen Wundke, the Global Business Development Director at AlgoZ, explained to Finance Magnates. "The customer puts the coins directly into that wallet."
AlgoZ launched the product when several crypto exchanges were facing allegations of the comingling of customer funds. With such allegations, the US securities market regulator legally moved against Binance and Kraken, two major crypto exchange venues. Now-collapsed FTX, the second-largest crypto exchange at its peak, also used customer funds illegally.
"We've completely eliminated the exchange and management counterparty loss. So, if all three parties in this relationship go broke, the customer is never affected. They still retain their coins," Wundke added.
He further highlighted that similar products to reduce counterparty risks already exist in the market and added: "It's different because we've made it in such a way that we never touch the clients' funds. It never comes through us."
Rising Crypto Investment Demand
AlgoZ offers quantitative trading services with cryptocurrencies. It was established in 2016 by Tal Teperberg, who is now the Group CEO. Apart from the recently launched Quant Pro, the company also offers a few other trading strategies.
The products offered by the company are available to both US and non-US customers. However, only professional and accredited investors, with a minimum investment of $100,000 in cryptocurrencies, can opt for investment through AlgoZ's strategies.
"We are targeting affluent investors because they have to be accredited investors now. I think we might be able to change that in the future simply because we never touch the client funds," Wundke added.
Highlighting the flexibility of AlgoZ's offerings, Wundke said: "Customers can choose one of our strategies to implement, and if they want to change it, they can. We agreed that once a month, without any cost, they can change it."
"Customers can get back their invested cryptos anytime they want. Why should they have to wait 30 or 90 days to get back all coins or money, like they do with hedge funds? We want them to have it when they want it. If they want their coins back, they can have them back. All they have to do is inform us."
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
Kraken Verifies $21.5 Billion in Client Assets with Latest Proof of Reserves
FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
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FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
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FM's Andrea Badiola Mateos at LSEG's Cyprus event
FM's Andrea Badiola Mateos at LSEG's Cyprus event
FM's Andrea Badiola Mateos at speaking in a panel discussion at LSEG's Cyprus event
FM's Andrea Badiola Mateos at speaking in a panel discussion at LSEG's Cyprus event
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
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The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
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Join us at FMLS:24 to connect with global institutional brokers. Secure your spot today! #fmls24
Join us at FMLS:24 to connect with global institutional brokers. Secure your spot today! #fmls24