Swiss financial data expert SIX, one of Europe’s leading financial information providers, is delighted to announce that CryptoCompare’s cryptocurrency data is now available to SIX’s broad client base to further strengthen their activities in digital asset markets.
As a result of the partnership, SIX can now cover more than 85% of all cryptocurrency market activity worldwide. CryptoCompare is a major third-party cryptocurrency data provider that has onboarded SIX to its distribution channels.
As market participants expand their digital asset offering, they need access to high quality data. This is particularly important as regulatory bodies place digital assets under greater scrutiny to protect investors and ensure transparency in these markets, as evidenced by ESMA with the launch of the Markets in Crypto Assets (MiCA) Regulation.
CryptoCompare is a UK-based provider of digital asset market data, aggregating data from over 300 locations worldwide. The company has broad coverage of reference and price data for cryptocurrencies and fiat-based trading pairs. Through this partnership, SIX now provides real-time and historical price data, order book and crypto-derivative data built on CryptoCompare’s proprietary aggregate pricing methodology. It is based on a 24-hour volume-weighted average calculation, time-penalty factor and outlier methodology to show the best price estimate for cryptocurrency traders and investors to value their portfolio at any time.
SIX continuously evaluates and adapts market needs related to digital assets to provide market participants with high-quality crypto market data, standardized by SIX, the company’s data offering. As such, SIX decided to partner with CryptoCompare due to the company’s vast coverage of cryptocurrency markets and ease of integration through a single API source, enabling SIX to provide digital asset data to its clients via the same delivery channels as its leading reference, pricing, corporate actions, regulatory, tax and ESG data.
Berta Ares Lomban, Head of Financial Information on Digital Assets at SIX, emphasizes: “Through this collaboration with CryptoCompare, we help our clients navigate the digital asset markets. Our clients will have access to the information they need to realize the opportunities and manage the risks in cryptocurrency markets, as well as comply with emerging regulations, through a reliable and trusted data partner.
“CryptoCompare is delighted to partner with SIX to provide its clients with high-quality and wide-ranging digital asset data, built on our market-leading methodologies that protect data integrity,” said Charles Hayter, CEO and co-founder of CryptoCompare.
“We look forward to furthering our relationship with SIX, helping as the company explores new opportunities to meet the growing appetite of their clients for exposure to digital assets.”