The alternative trading system (ATS) provider, Rialto just announced to the public, of its intention to go into partnership with the Seattle based cryptocurrency exchange, Bittrex so as to create a digital security trading platform.
Rialto, which currently offers its clients a regulated ATS for exchanging fixed income products, is looking for consent from regulators to broaden its ATS administrations into the advanced securities space. To this end, communication with controllers alongside Bittrex is in progress.
The proposed computerized securities platform utilizes Bittrex’s experience on cryptocurrency trading, advanced wallets, cybersecurity, and blockchain technology in collaboration with Rialto’s experiences on securities, and its authorized merchant ATS.
The two firms will consolidate their specializations to make an extensive securities stage, offering fiat exchanging for computerized securities, exchanging, placement, issuance advisory and authority administrations.
Rialto Exchange’s President, Shari Noonan, After the announcement came out to express her gratitude for being given the opportunity to render services on a large scale platform via the new partnership with Bittrex. Her speech read thus:
We are excited to share Rialto’s expertise in building networks and trading solutions in the regulated securities industry to develop this new venture in partnership with Bittrex. By working together, we’ll be able to expand our current client offerings to not only include digital securities, but also provide them access to a globally advanced and reliable trading platform
In response to the above statement, the CEO of Bittrex, Bill Shihara praised Noonan for playing her part well as an early adopter of this new tech. Below was his response to Noonan’s speech:
It takes a unique combination of advanced technology and financial expertise to build and launch an efficient, reliable and secure platform for trading digital securities, and we found the ideal partner in Rialto and its CEO Shari Noonan. We’re merging Bittrex’s technology, cybersecurity and blockchain expertise with Rialto’s deep knowledge of the securities industry. And, when you add that foundation with Rialto’s extensive background in financial services, including Shari’s experience at Goldman Sachs and Deutsche Bank, this new venture is well-positioned to further advance blockchain’s adoption by offering a comprehensive solution at the right time.
To crown it all, CCN reported sometime around May that signed a banking agreement with New York’s Signature Bank, which automatically made them to become one of the smallest exchange to be offering fiat-to-cryptocurrency trading pairs.