Cryptocurrency prime brokerage CyberX launches the world's first cross-platform margin trading service, allowing encrypted financial transactions to realize unlimited possibilities

2020-10-21 17:03

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CyberX Prime becomes the first prime brokerage service platform in the global encrypted financial field to provide cross-platform margin trading function

On October 21, 2020 Hong Kong time, CyberX, Asia's leading cryptocurrency prime broker, officially released the Prime product, becoming the first prime broker in the global crypto finance field to provide cross-platform margin trading services.

CyberX, headquartered in Asia, is committed to providing cross-platform trading, fund allocation, risk control and fund management for global encrypted financial trading institutions. Comprehensive solution. The company's newly released Prime product allows traders to conduct cross-platform transactions, risk control and margin management in multiple cryptocurrency trading markets through only one account, bringing more convenient operations and higher efficiency to professional trading teams. efficiency in the use of funds.

CyberX was founded in 2016 by former Goldman Sachs trader Hao Wang. Wang Hao graduated from the University of Tokyo majoring in mathematics, and later joined Goldman Sachs to engage in quantitative trading. In 2013, Wang Hao participated in the founding of China's first encrypted mobile wallet (Bihang.com), which was later acquired by OKEx. The core team members of CyberX are mainly from top Wall Street investment banks, financial technology companies and leading technology companies, including Morgan Stanley, UBS, Merrill Lynch, MSCI, RiskMetrics, Google, Baidu, Thomson Reuters, etc.

"Before entering the encrypted financial industry, our team came from the traditional financial field and witnessed the exponential growth of the traditional capital market with the introduction of prime brokers Growth. Although the encrypted financial market is still in its early stages, prime brokers will integrate and improve the efficiency of transactions and capital, thereby stimulating the trading market to be more active and attracting more participants to join the market.” Said Wang Hao, founder and CEO of CyberX.

Wang Hao said that unlike the mature traditional financial market, the encrypted financial market lacks integration, and most exchanges provide homogeneous products and service, but has a different account system, API design and completely independent margin management requirements. Traders have to debug one by one, connect to multiple exchanges, and do not perform cumbersome operations between multiple accounts on different exchanges. The independent margin management system prevents traders from hedging among multiple leveraged products and exchanges, and the capital utilization rate is low.

The goal of CyberX Prime is to break through the barriers between various exchanges and different products, with a set of leading intelligent transaction routing system, transaction execution system and cross- The exchange risk control system greatly improves the operational efficiency and capital utilization rate of the trading team. CyberX Prime is also the first truly one-stop prime brokerage solution for institutional clients in the current encrypted financial market, allowing institutional investors to use portfolio margin in one account to control the risk of their portfolios and Free and flexible asset trading between global crypto exchanges.

The launch of CyberX Prime is expected to greatly reduce the workload of the encrypted financial transaction team in dealing with transaction execution and management, allowing the transaction team to focus more on trading strategies and gain Higher transaction returns. In addition, for traditional financial institutional investors, the emergence of CyberX Prime will further accelerate the improvement of encrypted financial infrastructure, allowing traditional financial institutions to connect to encrypted asset transactions faster, thereby lowering the threshold of the industry.

Alex Chen (former Goldman Sachs trader), co-founder of CCL Analytics, an Asia-based cryptocurrency hedge fund, said, Hedge funds that use arbitrage strategies between most major exchanges need to manage multiple sub-accounts at the same time. Just opening an account and transferring assets between different exchanges is a painful thing. The functions provided by CyberX will be greatly improved Our operating procedures improve the efficiency of capital use and reduce operating costs."

At present, CyberX has served more than 50 encrypted financial transaction teams, and has provided services including PayPal Finance Cryptocurrency trading users such as , Cobo Wallet, F2Pool and Biyin provide trading platform support, and the daily transaction volume exceeds 200 million US dollars. The CyberX team is located in San Francisco, Hong Kong and Beijing, providing 24/7 service to institutional clients.

About CyberX

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CyberX was founded by Wang Hao, a former Goldman Sachs trader, in 2016. Comprehensive solutions in cross-asset encrypted financial transactions, fund allocation, risk control and fund management to meet the diversified financial needs of customers. Currently, CyberX serves more than 50 encrypted financial institutions around the world, including the world's leading mining pools, wallets, hedge funds and miners.