Digital assets market maker, Genesis, has acquired Qu Capital, a New York-based quantitative investment and research firm.
Founded in 2017, Qu Capital has developed trading technology including exchange connectivity, order routing and advanced execution tools, and conducted quantitative research on the digital currency markets.
Genesis facilitates trades for institutional investors and high net–worth individuals looking to buy or sell large sums of digital currencies. It provides liquidity to its trading partners, along with same-day settlement, 24/7 trading, and institutional expertise developed from trading billions of dollars in digital assets since entering the industry in 2013.
“We have been very impressed with the Qu Capital team and believe they will provide key technology enhancements that will benefit our trading and lending clients,” says Michael Moro, CEO of Genesis. “This acquisition is the latest effort to bolster our technology capabilities and intellectual firepower in order to better serve clients in an increasingly competitive marketplace.”
“Genesis is committed to offering best-in-class trading and lending technology solutions to our institutional counterparties,” comments Pat DeFrancesco, CTO of Genesis. “We are excited to add the Qu Capital tools, which incorporate machine learning and other advanced methodologies, into our existing technology stack and new product offerings.”
This is the first acquisition that Genesis has made. The terms of the deal were not disclosed.