On May 28, Kevin March, the co-founder of FPG, said:
“An increasing portion of our inbound prospects are established industry participants coming from FX, equities and derivatives markets.”
However, by enduring US regulation, FPG offers institutional players a number of tools, APIs, and another tech for trade automation. March noted similarities among the incoming crypto trading interest.
“The cryptocurrency markets offer a novel and attractive line of business ripe with opportunities for asset managers and a flashy way to bring in additional clients for service providers.”
Likewise, rallying in price more than 170% from its coronavirus-induced 2020 low, Bitcoin has seen a number of traditional market entities express interest in the industry in recent weeks, including billionaire hedge fund founder Paul Tudor Jones.
#Institutional #algo trading #startup Floating Point Group notes increased $Crypto interest since fall 2019, @benjaminpirus reports. https://t.co/PhU1P5gjxk — Cointelegraph (@Cointelegraph) June 2, 2020
Though cryptocurrencies have seen rising prices and attention since COVID-19 measures and fear picked up globally in March 2020, FPG saw crypto interest start its climb in Q4 2019.
“The Covid-19 pandemic seems to have had little effect on this trend.”
Thus, he concluded:
“In fact, the inactivity associated with working from home may give many of the relevant decision makers a propensity to think outside the box and consider new strategic initiatives like venturing into cryptocurrencies.”