Providing Liquidity for the Crypto Ecosystem
Since its launch a year ago, Enigma Securities, Makor Group’s cryptocurrency brokerage business has experienced rapid growth. Now, Enigma is expanding its services to include a new Application Program Interface, also known as an API. In today’s fast paced, technologically driven world, Enigma’s API connects institutional clients to one of the largest liquidity pools in the digital assets industry.
Using the API, clients can live-stream prices, executing trades as and when they want. The product is well suited to the 24/7, global nature of the cryptocurrency market as it gives traders the flexibility to access Enigma’s best-in-class pricing around the clock.
Enigma’s API comes in two forms: Rest and FIX. The Rest API allows clients to trade at spot using prices from an exchange of their choice, such as Coinbase, or Kraken, as a reference. Clients currently using the product include ATM, and payment processing businesses.
Meanwhile, the FIX API is in an electronic adaptation of the OTC experience and is part of Enigma’s new proprietary trading platform. The sleek platform, well suited to Crypto Hedge funds, allows institutional clients to ‘plug and play,’ selecting the prices they want to trade at. Supported currencies currently include BTC, BCH, ETH, LTC, XRP against USD and EUR. More trading pairs are available upon request.
Speaking about the new product, Michael Halimi, CEO of Enigma said, “Our clients value efficiency and transparency. They come to us because they want to execute a trade in one place, with a counterparty they trust. This has been the foundation of our OTC business, and now we are excited to continue service with our API.”