Posted 1 year ago | by Ben Armstrong
Bitcoin Suisse Makes $3M Investment in CoinRoutes, Acquires Minority in US Unit
Bitcoin Suisse just announced that it has made a $3 million USD investment in CoinRoutes, a crypto market intelligence firm.
The announcement comes at a time when some in the crypto markets are turning negative on the future prospects of the industry, although there have been many positive developments recently.
With the investment Bitcoin Suisse has acquired a minority state in the US unit of CoinRoutes, although Bitcoin Suisse declined to disclose the specific nature of the interest it now has in CoinRoutes, preferring to describe it as a “sizeable minority” in the company.
Niklas Nikolajsen, the chairman of the Bitcoin Suisse Group, commented that:
“We have been absolutely satisfied with ('CoinRoutes’) technology for the past year.”
As a part of the investment Nikolajsen will be given a seat on the board at both the US and Swiss units of CoinRoutes. CoinRoutes creates market data at more than 40 cryptocurrency exchanges, and allows traders to execute trades at the market-leading rates.
Bitcoin Suisse is Expanding the Market
Bitcoin Suisse is positioning itself to be a leader in the investment side of the emerging crypto space. Earlier this month the company announced the creation of a CHF denominated cryptocurrency ETP, named Amun Bitcoin Suisse BTC/ ETH ETP, which trades under the symbol 'ABBA', in conjunction with Amun AG, another Swiss crypto investment firm.
At the time Lothar Cerjak, the Head Institutional Services & Products at Bitcoin Suisse, commented:
“We are excited to launch our first exchange-traded product, part of our continually expanding range of services. Along with Amun, we share a strong desire to pioneer new possibilities in crypto finance, building with the highest standards of technology and service which Bitcoin Suisse offers since 2013.”
The ABBA ETP will allow Swiss investors to gain exposure to cryptocurrency products, without having to deal with direct ownership of tokens.
Late last month Bitcoin Suisse introduced crypto banknotes, which are beautifully produced paper wallets for a range of cryptos. The notes are of a similar quality of banknotes, and represent direct ownership of tokens like BTC, ETH, and XTZ.
Bitcoin Suisse CEO Nikolajsen commented that:
“The new series of Bitcoin Suisse Crypto Certificates have the look and feel of traditional paper banknotes and is, I dare say, a quite revolutionary paper wallet design. Produced and designed with quality and security in mind, they are a huge step forward in the realm of paper wallets and physical crypto-assets – while keeping a clear line back the original design ethos. Quality and state of the art from end to end – including key generation and production process, to the refined design and the many forgery-proofing protection mechanism. While it may seem counter intuitive and almost a step back in time to make physical representations of crypto-currencies, they do serve a niche and have various solid use cases, and if one wants physical crypto assets, this is in my view, the best product available on the market!”
Despite crypto's volatile price swings, there are numerous events that point to long-term development in the space. Bitcoin Suisse is making investment that aren't designed for short-term profit, and may lead others in the industry to look for new ways to innovate.