Coinhako Streamlines and Scales Crypto Services, Powered by Talos
Coinhako, a leading cryptocurrency platform in Asia, implemented Talos technology to enhance its multi-faceted trading operations. With Talos’s White Label platform and dealer functionality, Coinhako streamlined its workflows, improved liquidity, and optimized risk management. This collaboration enabled Coinhako to focus more of its resources on expanding its services, while providing reliable, efficient and continuous trading to its growing customer base.
Coinhako Streamlines and Scales Crypto Services, Powered by Talos
Introduction
Coinhako, a leading cryptocurrency platform in Asia, implemented Talos technology to enhance its multi-faceted trading operations. With Talos’s White Label platform and dealer functionality, Coinhako streamlined its workflows, improved liquidity, and optimized risk management. This collaboration enabled Coinhako to focus more of its resources on expanding its services, while providing reliable, efficient and continuous trading to its growing customer base.
The Company
Founded in 2014 by Singapore entrepreneurs, Coinhako is a reputable cryptocurrency platform offering reliable digital asset access for both retail and institutional customers in Asia. Coinhako was created with a simple value proposition – to create a hassle-free way to access bitcoin. Over the years, they expanded on this foundation to support a wide range of digital assets, as they work towards their vision of enabling access to the crypto-economy across Asia. Coinhako is widely recognised as one of the most user-friendly platforms for retail customers, boasting robust features, user-centric design, and uncomplicated trading workflows, and providing secure and seamless access to a broad range of cryptocurrencies.
The Challenge
With a growing number of customers trusting and relying on their services across trading, custody and investment solutions, Coinhako was looking to maximize their workflow efficiency through a robust technology solution that could scale with their growing business and help them expand their services.
As a regulated provider of digital payment token services, Coinhako serves their customers through various channels including a mobile application, web interface and an OTC desk. Customers can transact in a wide variety of digital assets against Singapore dollars as well as US dollars. To facilitate the business, Coinhako runs:
- an active trading desk, responsible for sourcing best available liquidity from a market fragmented across exchanges and OTC dealers;
- a treasury desk, responsible for collateral management to ensure smooth trading and settlement across digital and fiat currencies; and
- an FX desk to manage currency conversions.
The visibility of real-time customer trades and resulting positions was paramount to optimizing the movement of assets while keeping the risk in check. A robust infrastructure along with a resilient workflow was needed to support a smooth customer experience in a market that is available 24/7. Therefore, it was imperative to get all the moving parts of the business working in tandem to achieve sustainable scalability.
The Solution
Coinhako implemented Talos’s White Label platform and incorporated dealer functionality to power critical aspects of their customer workflows.
- The pricing engine enabled dealers to configure tailored pricing for different customers groups, for a predefined list of assets, and to route their orders to either an internal trading desk or the preferred source of external liquidity.
- The synthetic FX crossing functionality allowed the cryptocurrencies to be quoted in local or any other desired fiat currency while allowing the trade to be split into underlying components for segregated hedging.
- The real-time visibility of customer trades and positions ensured effective risk and treasury management for the underlying assets.
- The position management workflow allowed the Coinhako trading teams to create and map books to each desk for efficient profit & loss tracking and segregation of duties.
- The built-in rules engine gave the traders flexibility to route the positions for any specific token to a particular book for tracking and hedging.
- Talos’s expansive connectivity network allowed them to aggregate liquidity from a diverse set of exchanges and OTC counterparties to help ensure best execution and pricing resilience, especially during volatile markets.
- A suite of fit-for-purpose execution algorithms facilitated smart execution in various market conditions.
The Results
By implementing Talos’s technology, Coinhako achieved infrastructure resilience and long-term scalability while allowing them to reallocate engineering resources towards building services to enhance their customer experience.
The single point of access to deep liquidity powered by Talos’s aggregation technology has yielded tight spreads for their customers while facilitating a seamless 24/7 trading service.
A flexible rules engine has allowed traders to configure the platform for effective risk management based on asset type, market volatility and time of day. This functionality has also helped to reduce execution cost and improve profitability through efficient netting of positions.
“The integration of Talos’s technology into our operations has helped advance our mission to improve access to the crypto economy across Asia,” said Kelvin See, Head of Trading at Coinhako. “With Talos, we’ve enhanced our trading infrastructure, enabling us to manage risk more effectively, and to offer better service to our clients around the clock.”
“We are proud to work with Coinhako on their journey towards offering superior, trusted cryptocurrency services in Asia,” said Samar Sen, Head of Asia at Talos. “Our sell-side solutions are designed to handle the complexities of digital asset trading with ease, ensuring Coinhako can provide their customers with unmatched reliability and efficiency."
The Future
As Coinhako strengthens their institutional offering, they will continue to leverage Talos’s platform to bring innovative trading services to their customers.
Talos Disclaimer: Talos Global, Inc. and its affiliates (“Talos”) offer software-as-a-service products that provide connectivity tools for institutional clients. Talos does not provide clients with any pre-negotiated arrangements with liquidity providers or other parties. Clients are required to independently negotiate arrangements with liquidity providers and other parties bilaterally. Talos is not party to any of these arrangements. Services and venues may not be available in all jurisdictions. For information about which services are available in your jurisdiction, please reach out to your sales representative. Talos is not an investment advisor or broker/dealer. This document and information do not constitute an offer to buy or sell, or a promotion or recommendation of, any digital asset, security, derivative, commodity, financial instrument or product or trading strategy. This document and information are not intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such. This document and information are subject to change without notice. It is provided only for general informational, illustrative, and/or marketing purposes, or in connection with exploratory conversations with institutional investors and is not intended for retail clients. The information provided was obtained from sources believed to be reliable at the time of preparation, however Talos makes no representation as to its accuracy, suitability, non-infringement of third-party rights, or otherwise. Talos disclaims all liability, expenses, or costs arising from or connected with the information provided.
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