Thomson Reuters recently inked its partnership with CryptoCompare, thus making available the real-time trade data on select cryptocurrencies on its financial analyzing platform.
Thomson Reuters, one of the world’s leading news provider, signed a partnership with crypto market data aggregator CryptoCompare which will allow the latter to provide real-time trade data and to integrate order book for about 50 cryptocurrencies, according to the data aggregator’s press release yesterday, July 31.
Specifically, CryptoCompare will be supplying the aforementioned service to Thomson Reuters’ financial analyzing platform Eikon. By and large, this will help provide reliable insights into the cryptocurrency asset, providing an avenue for users to predict precise price movements.
Sam Chadwick, Thomson Reuters’ Director of Strategy in Innovation and Blockchain, said that despite the fall in the price of many leading cryptocurrencies this year, the organization continues to see an increase in demand from its customers for pricing coverage of the top names.
Chadwick continued:
“We have been engaged with CryptoCompare since their involvement in our blockchain hackathon in September 2016, and continue to be very impressed by their approach to coverage of these challenging markets. This partnership puts pricing data for this emerging market alongside other asset classes, giving our customers a more comprehensive trading view in Eikon.”
Additionally, the CryptoCompare data in Eikon will also be made available in the data feeds of Thomson Reuters’ Elektron platform, which will appear alongside the same feeds displaying equity prices from Nasdaq.
Bridging The Gap
CryptoCompare appears to be excited with the deal, and have been noticed to retweet many renowned crypto news sites’ coverage on the said topic. Charles Hayter, CryptoCompare’s CEO and Founder, hinted that they are seeing an increasing demand from the institutional investor community for real-time and comprehensive market data.
Hayter expressed his excitement in entering into this partnership with Thomson Reuters, saying that they have always sought to supply transparency to the crypto market, and this partnership would be a great opportunity for the institutional investor community to gain access not only on CryptoCompare’s data but also to benefit from its experience and insight.
Since its founding in 2014, CryptoCompare has been known to provide “real-time, high-quality and reliable market and pricing data” on over 5,000 coins and 200,000 currency pairs worldwide, consequently bridging the gap between cryptocurrencies and traditional financial markets.
Interested in learning more about cryptocurrencies? Check out these articles from our cryptocurrency news site’s July archive.