Gate.io, a major cryptocurrency based in the US, announced on Wednesday that it has launched an institutional services arm that is designed specifically for servicing brokers and market makers.
The new service, which is named “Gate Institutional,” will provide the tools needed to help institutions to increase their cryptocurrency exposure. The division aims to offer a “best-in-class crypto trading solution” to large companies seeking to trade cryptocurrencies, a group that includes market makers, hedge funds, and buy-side firms, among others.
The new institutional division has programs that target to fulfil the needs of brokers and market markets. Such a move is part of Gate.io’s commitment to increase liquidity while continuing its expansion.
Gate Institution’s market maker programs support some of the major cryptocurrencies in the world with flexible trade strategies, a frequency of 900r/s for order placement, 5000r/s for order cancellations, and support for over 300 connections through WebSocket.
On the other hand, the broker program supports three types of brokers – Portal, API, and Exchange. Each of the brokers will earn bonuses and rewards depending on the way they use the platform.
Besides that, Gate Institution plans to issue an exclusive NFT pass, which users can hold in order to access Gate.io’s metaverse. Gate.io said that the NFT has been upgraded with 3D capabilities and will enable users to access whitelist qualifications or direct airdrops.
Gate.io is therefore keen on continuing to serve institutional clients at maximum capability.
Mariela Tanchez, Director of Business Development at Gate.io, talked about the development and said: “More and more institutions are curious about cryptocurrencies and are looking to diversify their portfolios. To ease their access to crypto services, Gate.io launched Gate Institutional. Being a comprehensive crypto ecosystem, Gate Institutional will benefit a wider range of brokers and market makers.”
Cultivating Innovation in the Crypto Industry
Gate.io established its crypto trading services in 2013. Initially, the exchange was based in China, but later the firm moved its services to the US, where it witnesses a huge daily trading volume. Its headquarters is based in Virginia where it supports more than 500 crypto coins for trade and around 30 for direct purchase.
With over 10 million registered users on the platform, Gate.io is regarded as one of the major crypto exchanges in the world and provides services related to the trading of multiple leading digital assets.
In September last year, Gate.io launched a $100 million fund designed to support early-stage projects in the industry. The exchange unveiled its venture capital vehicle, Gate Ventures, which focuses on early-stage investments in decentralized infrastructure, ecosystems, and applications.
Since the crypto and blockchain industries are still in their early days, Gate.io is working to cultivate innovation in the market. Gate Ventures invests in “wide-ranging” projects with capital injections of up to “multi-millions” of dollars. The venture fund also provides grants to open-source projects that are developing Web 3.0 and open-finance infrastructure.