Digital asset investment firm Algoz has announced a strategic collaboration with regulated market maker and top over-the-counter desk Wincent.
Algoz shared details of the new partnership via a press release sent to crypto.news on Oct. 30. This announcement follows Algoz’s recent collaboration with Standard Chartered-backed Zodia Custody.
According to the announcement, Algoz will leverage its partnership with Wincent to facilitate the onboarding of new investors. Through this collaboration, investors such as family offices seeking to enter the crypto market via Algoz will not need to convert fiat currencies to crypto beforehand, as is typical across many providers in the industry.
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Wincent offers the solution to this hurdle. Algoz users can now invest using Tether (USDT) Bitcoin (BTC) and Ethereum (ETH) and other cryptocurrencies using U.S. dollars, euros, or other fiat currencies. The partnership allows Algoz clients to directly swap fiat for crypto, reducing risks associated with exposure to unregulated providers.
Algoz noted that its collaboration with Wincent supports asset conversion based on already approved know-your-customer and anti-money laundering checks. These regulatory requirements are critical components of global crypto regulation, with various industry players viewing them as essential to the growth of the crypto market.
With regulatory clarity pivotal to the industry, many players are implementing measures to ensure safe on- and off-ramping of customers. Regulated platforms like Wincent and institutional-backed providers like Zodia Custody contribute to this approach.
The platform’s off-exchange settlement solution, Quant Pro, plays a central role in the partnership.
For Algoz, the solution, Zodia’s custody wallet, and Wincent’s know-your-customer and anti-money laundering integration add a layer of protection for users.
“The creation of Quant Pro, our off-exchange settlement system, using Zodia was the first breakthrough for investors as we were able to significantly mitigate exchange and management counterparty risk.”
Stephen Wundke, director of strategy and revenue at Algoz.
Wincent’s regulated market records between $3 and $5 billion in daily volume, with over 300,000 daily transactions.
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