Crypto-focused investment bank Galaxy Digital has partnered with Rise Wealth Technologies, innovator of machine learning and algorithmic trading systems. Rises’s AI-powered trading technology is designed to place “the power of Wall Street’s best financial and quantitative analysts into the hands of everyday investors.” Through Rise’s Crypto Traded Fund, Rise (RSE) token holders will be able to participate in a mix of traditional and crypto asset classes.
Rise CEO Stefan Tittel says the power of the partnership lies in its ability to democratize trading and investment opportunities.
“Rise has the potential to give retail investors access to trading technology that has traditionally been reserved for Wall Street’s elite. The partnership with Galaxy Digital is another step towards leveling the competition in financial markets for Rise token holders.”
The platform is designed to let users “invest like a billionaire” by investing in AI-powered trading strategies and distributing quarterly dividends to token holders. Its technology has beaten global markets since 2012.
Rise will leverage Galaxy Digital’s OTC trading capabilities, accelerating the scalability of Rise’s automated trading operations. Cooperation between the two companies is also intended to make the cryptocurrency space more appealing to institutional investors by overcoming liquidity issues that have prevented traditional traders from entering the cryptocurrency markets. With increased liquidity, traders will be able to perform certain types of fast, high-volume trading strategies as well as remove potential constraints for larger block trades.
Bitcoin bull and Goldman Sachs veteran Mike Novogratz raised $250 million to finance Galaxy Digital earlier this year. Galaxy Digital recently announced that Ian Taylor, a former Goldman Sachs banker, will join the company in January 2019, according to a report by Bloomberg, where he’ll oversee the company’s division that provides blockchain advisory services.