Canadian media company Thomson Reuters will track even more cryptocurrency assets on one of its financial data channels, thanks to a new partnership with CryptoCompare.
The press release says that, within the framework of the transaction, CryptoCompare will compare the order book and trade data of 50 cryptocurrency tokens received from the "trusted" exchanges. After that, the cryptocurrency assets will be provided to investors through the Thomson Reuters Eikon platform.
The new data will provide institutional investors with a "reliable understanding" of the situation on the cryptocurrency assets market, which will allow them to forecast the movement of asset prices with "a high degree of probability", notes Thomson Reuters. Sam Chadwick, Thomson Reuters Strategic Director for Innovation and Blockbuster, commented:
"Despite the decline in prices of many leading cryptocurrencies during 2018, we continue to see a growing demand for the main assets from our customers. This partnership allows us to put price data for this emerging market on a par with other asset classes, providing our customers with a more complete trade overview in Eikon. "
In May, Thomson Reuters launched the data transmission channel for real-time cryptocurrencies. The Cryptocurrency Real Time Rates index is available through a customizable API on the Thomson Reuters Eikon platform. The application provides trading data from various crypto-exchange exchanges, including Bitflyer and Bitpoint. Then the company noted that in the future more trading platforms will be added.
More and more companies are trying to present solutions related to the cryptocurrency market for institutional investors. For example, in June, the operator of the largest cryptocurrency web wallet, Blockchain.com, launched the Blockchain Principal Strategies (BPS) institutional platform for organizations, family asset management companies and individual investors.
In June, the cryptocurrency company Circle said that it noticed a significant surge in interest from institutional investors. According to the firm, in May this year they noted a 30% increase in interest from large investors.