TradAir Partners with Snap

TradAir has
partnered with Singapore-based technology firm Snap Innovations, to jointly
develop FX solutions, initially for Asian market participants.

The joint
venture has been made possible through funding provided by the Singapore Israel
Industrial R&D Foundation (SIIRD), a co-operation between the Singapore
Economic Development Board (EDB) and the Israel Innovation Authority to
promote, facilitate and support joint industrial R&D collaboration between
Singapore-based companies and Israel-based companies across different
industries.

“We are
very pleased to support TradAir and Snap Innovations, exemplary examples of
Fintech companies in Singapore and Israel, in their joint research efforts to
address challenges facing Asian financial participants,” says Chan Eng Chye, general
manager of SIIRD. “We look forward to supporting more of such collaborative
R&D projects between innovative Fintech firms from Israel and Singapore.”

The firms
say the new solutions will enhance regional FX liquidity, enabling Asian market
participants to aggregate, trade and become market makers between the currently
fragmented OTC and exchange-based regional FX liquidity pools.

“Asia is a
rapidly growing FX region, and Singapore is the third largest centre globally,”
says Michael Lim, director of Snap Innovations. “This is great opportunity to
partner with TradAir to jointly develop innovative FX solutions that address
challenges facing Asian market participants.”

Colin Lambert

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