U.S. Markets close in 5 hrs 52 mins

Algorithmic trading platform CoinRoutes reports $1 billion in order flow for 2019

Celia Wan

New York-based trading software provider CoinRoutes said Monday that the company saw more than $1 billion worth of digital assets in order flow on its platform over the course of 2019.

The firm, which develops algorithmic trading tools for cryptocurrencies, said it has processed more than 21,000 unique orders across over 120 cryptocurrency pairs on behalf of its clients since the start of the year. The platform, which provides order routing technology for best-execution of crypto trades, routed more than 500,000 orders to 18 different crypto markets in that time period. 

CoinRoutes raised $3 million earlier this year, announcing that crypto brokerage Bitcoin Suisse had bought a "sizeable minority" in its U.S.-based unit.

As The Block reported at the time, Bitcoin Suisse chairman Niklas Nikolajsen joined CoinRoutes' board as part of the deal.