AlphaPoint Secures $1.35 Million Investment to Power Digital Currency Exchanges Globally

AlphaPoint Secures $1.35 Million Investment to Power Digital Currency Exchanges Globally

AlphaPoint, a leading financial technology platform provider, powering the top global digital currency exchanges, today announced it has closed $1.35 million in funding. The investment will support AlphaPoint’s international growth and development of its products and services, and enable the company to more swiftly ease the adoption of digital currencies around the world.

Answering the World’s Digital Currency Needs

Bitcoin, the most widely used digital currency with a present market value of approximately $5 billion, is experiencing roughly 80,000 transactions per day, according to blockchain.com. While bitcoin’s massive growth has fueled the need for a digital currency marketplace, there is an enormous disparity among digital currency exchanges when it comes to usability, credibility and reliability.

Like any exchange, there needs to be balance between supply and demand. This is the crux of the problem for many digital exchanges today – arguably one of the biggest hurdles to its mass market adoption – as it is challenging for any exchange, particularly newcomers, to instantly and always have an ideal balance of bitcoin and altcoin buyers and sellers.

AlphaPoint addresses this disconnect by helping financial institutions and startups alike establish legitimate, trustworthy and institutional-grade exchanges with ample liquidity around the world.

Leveraging high-frequency trading expertise and proprietary knowledge from the development of fintech solutions previously implemented by UBS and Deutsche Bank, Joe Ventura, Founder and CTO of AlphaPoint, collaborated with other financial technology and security systems experts – with more than 35 years of combined experience – to develop a solution that addresses this challenge in two ways:

- AlphaPoint Exchange Platform enables organizations to more soundly launch a digital exchange, or better handle transaction volume of existing exchanges. The platform can process nearly one million transactions per second, and be up and running in less than 20 days.

- Startups – Can launch faster, reduce or eliminate development costs, and gain instant access to required liquidity essential in launching and operating an exchange.

- Existing Exchanges – Can upgrade to an institutional-grade platform that can easily scale with rapid growth.

- AlphaPoint Exchange Remarketer ensures there are always either sufficient buyers or sellers on an exchange. By interlinking and aggregating the liquidity of partners and exchanges on the platform, AlphaPoint enables startups to have liquidity from day one, and existing exchanges to have the deepest order books.

“Furthering our commitment to identifying and fostering new business and economic growth opportunities in the region, we are excited to help AlphaPoint and its local leadership break barriers in the adoption of digital currency and bring real progress to this burgeoning arena,” said Alan Kraus, Director of IT Investments, Ben Franklin Technology Partners of Southeastern Pennsylvania.

“AlphaPoint not only has a deep bench of accomplished players with real-world fintech and security expertise, the team comes with a proven track record, as we have experienced with Vadim’s prior success at LiftDNA, a former investment of ours.”

Rapid Global Adoption and Support

AlphaPoint’s technology is already adopted by over a dozen of the most notable exchanges, including one of the top 10 exchanges in the world.

Currently, AlphaPoint works with Cointrader.net, Canada’s premier bitcoin exchange and top 10 USD exchange platform. AlphaPoint also serves as the technology backbone behind meXBT, the leading exchange in Latin America; BitcoinsNorway, the first exchange in Norway; and Bitt, the first provider of digital currency exchange and merchant processing services to the Caribbean Community (CARICOM). Additionally, AlphaPoint powers exchanges in Singapore, China and Africa among others.

Scott Becker of Google-acquired Invite Media, Gabriel Weinberg of DuckDuckGo, Robin Hood Ventures, Ben Franklin Technology Partners and other angel investors, are among those propelling AlphaPoint’s ability to improve the core infrastructure needed to accelerate the global adoption of bitcoin and other digital currencies.

“The applications for digital currencies are just starting to take shape and we’re at a key turning point,” said Vadim Telyatnikov, CEO of AlphaPoint. “AlphaPoint will continue to help accelerate the growth of this industry by empowering businesses with the ability to provide every person in the world easy access to buy and sell digital currency.”

Advising the company are former American Express Chief Privacy Officer Andy Roth, and well-known digital currency expert David Johnston, among other veteran leaders from Fortune 500 technology and financial service companies.

About AlphaPoint

AlphaPoint (est. in 2013) is the leading exchange technology platform provider to support digital currencies. The company powers some of the top bitcoin and altcoin exchanges in the world, and is faster than traditional exchanges with the ability to process nearly one million transactions per second. By easing the adoption of digital currencies, AlphaPoint’s secure, scalable and customizable platform is helping change how businesses and consumers transact. AlphaPoint has offices in New York City, Philadelphia, and San Francisco.

For more information about AlphaPoint, visit http://www.alphapoint.com/


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