The Zurich-based startup Wyden has entered into a partnership with Finnova according to a press release. Together with the banking software provider based in Aargau, it aims to support financial institutes with trading in digital assets. To do so, Finnova’s core banking system will be linked with Wyden’s trading cycle automation technology.
Wyden’s CEO Andy Flury commented: “With our software solution, we offer an unprecedented degree of process automation, risk management and integration in institutional crypto trading.” Ante Plazibat, Head of PM Digital Assets at Finnova, stated that the partnership will “take the industrialization of digital asset processes to a new level”.
According to the press release, the Finnova community includes more than 100 banks in Switzerland and Liechtenstein. Finnova and Wyden can use these to launch an offering for digital asset trading. However, other partners will also be able to connect to the solution via an interface.
Wyden was called AlgoTrader until fall 2022. The startup founded in 2014 has headquarters in Zurich as well as subsidiaries in New York and Singapore. Finnova has been active on the market since 1974. ssp