Swiss-regulated crypto brokerage company, Bitcoin Suisse, reportedly invested $3 million in cross platform trading platform CoinRoutes. Based on the official announcement, Bitcoin Suisse announced the acquisition of a “sizeable minority” stake in CoinRoutes’ U.S. unit with the investment.
While Bitcoin Suisse did not disclose the percentage of the stake acquisition, the company’s primary reason for the investment was highlighted as CoinRoutes’ algorithmic trading software, which sources cryptocurrency price data from over 40 exchanges.
In this regard, Niklas Nikolajsen, chairman of the Bitcoin Suisse Group said,
“We have been absolutely satisfied with [“CoinRoutes”] technology for the past year.”
Technology provided by CoinRoutes allows Bitcoin Suisse to execute trades at the “best prices across all major crypto asset exchanges,” per the announcement.
As part of the investment, Nikolajsen is also joining the board of directors of both CoinRoutes’s U.S. and Switzerland units.