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Giant Forex Trader, Integral Development, to Launch Institutional Grade Cryptoasset Exchange

Giant Forex Trader, Integral Development, to Launch Institutional Grade Cryptoasset Exchange
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Integral Development Corp. (IDC), a Palo Alto, California-based forex distribution platform and provider of online trading platforms, has announced that it will be partnering with digital asset trading platform, Mint Exchange, - in order to launch an “institutional grade cryptocurrency exchange.”

Founded in 1993 after receiving $51 million in initial funding, IDC has been able to develop a robust platform that offers a “multi-sided trading facility” - which “connects market participants with sources of forex liquidity.”

Traditional Investors Taking More Interest In Cryptoassets

Similar to how clients of other large traditional financial companies have expressed an interest in cryptocurrencies, IDC’s customers have also been looking to trade digital assets.

In order to meet the demand from its clients, IDC first integrated several cryptoassets into its proprietary Open Currency Exchange (OCX) toward the end of 2017.

In early 2018, IDC expanded its crypto services further by listing 14 different cryptocurrencies, while also integrating its trading platform with 16 other (external) digital asset exchanges.

Mint Exchange To Leverage IDC's Experience

Mint Exchange is looking to leverage IDC’s experience and expertise in trading financial assets, including how the established forex trader has been able to remain compliant with industry-specific regulatory guidelines.

Commenting on the joint initiative to build a regulated exchange for institutional investors, Masato Kikuchi, the managing director of Mint Exchange, said:

We chose to build Mint Exchange on the Integral FX platform because of its history of innovation and reliability. Integral processes over $40 billion/day in fiat currency trading, so we’re confident that it can handle our cryptocurrency volumes.
Masato Kikuchi

In order to remain competitive and improve liquidity levels on its platform, ICD introduced the Open Currency Exchange (OCX) in 2015 - which aggregates financial data from “over 250 [international] banks, brokers and asset managers directly connected into the ECN.”

According to its official website, the main purpose of the OCX solution is to connect large “forex market participants into a single integrated network of liquidity, [so that its customers can gain better access to] liquidity - to achieve greater profitability.”

Many Companies Launching Crypto Services For Traditonal Market Players

As CryptoGlobe reported, Europe-based digital asset exchange, Covesting, has announced the “soft launch” of its crypto trading platform - which also focuses on bringing more traditional financial players such as asset managers to the blockchain and crypto ecosystem.

Covesting’s management, which includes former executives from Danish financial institution, Saxo bank, has also been working extensively in crypto-friendly Gibraltar - as they intend to fully establish their headquarters in the British Overseas Territory.

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