Wyden

28.02.2024 - 09:27:02

Wyden Announces Growth in 2023 and Aims for Further Expansion

Issuer: Wyden / Key word(s): Cryptocurrency / Blockchain/Miscellaneous

28.02.2024 / 09:27 CET/CEST
The issuer is solely responsible for the content of this announcement.

Despite challenging market conditions Wyden maintained its strategic growth course in 2023 Two renowned sell-side clients newly connected to Wyden crypto trading platform New partnerships with major players in the crypto market such as Copper Connection of additional crypto and digital asset liquidity venues Growth paves way for further expansion and series B financing round in 2024 Zurich (CH), 28 February 2024 – Wyden, the leader in institutional digital asset trading infrastructure, has maintained its growth course in 2023 amidst challenging markets. The Swiss tech firm has won new clients and formed strong partnerships, and unveiled new integrations to further enhance its global liquidity network for sell and buy-side clients. These achievements have set the stage for further growth and the firm’s expected series B raise in 2024. Wyden’s sell-side growth strategy pays off Despite last year’s strong market downturns which were closely related to scandals such as FTX, rising interest rates, investor money outflow and a steep decline in the number of hedge funds, Wyden signed up two globally renowned sell-side clients. This increases the overall number of sell-side clients to 14. In parallel to the preparations for its series B, Wyden is increasing its commercial headcount to to further expand its leading market position with banks and brokers. Due to the mandatory implementation of regulatory requirements for digital assets such as EU’s MiCA, VARA in the middle east and the soon to be announced digital asset regulations in Brazil and Turkey, Wyden expects continued strong growth in the sell-side segment. New strategic partnerships and +55 connectors In 2023, Wyden established three strategic partnerships. On the core banking side with both Finnova and Temenos, offering financial institutions a fully integrated digital asset solution. On the buy-side, Wyden’s partnership with Copper and the integration of ClearLoop offers clients enhanced market access along with safe storage, off-exchange settlement and improved collateral management. Wyden has also expanded its network of digital asset liquidity venues. Wyden has added Hyphe, Rulematch, Wintermute, Woorton, Zodia Markets and TDX to further enhance its deep liquidity and best execution capabilities for institutional clients. Overall, Wyden now offers +55 liquidity venue integrations. Setting the stage for further growth in 2024 The positive development in 2023 sets the stage for further growth, especially Wyden’s upcoming series B. Andy Flury, CEO of Wyden, said: "We look back on a successful 2023. With our new strategic partners and the growing number of connected digital asset liquidity venues, we offer banks and other financial institutions reliable and MiCA-compliant infrastructure services." About Wyden Wyden is the global leader in institutional digital asset trading technology. By covering the entire trade lifecycle and supporting seamless custody, core banking and portfolio management system integration as well as full trade lifecycle automation, the Wyden platform streamlines digital assets trading. Engineered by a team of trading system veterans and crypto asset experts, Wyden offers best-in-class integrated infrastructure solutions that meet the highest institutional needs. Wyden has offices in Zurich, New York and Singapore. To learn more visit www.wyden.io. Contact Financial and Business Press Germany edicto GmbH
Ralf Droz / Sönke Knop
+49 (0) 69 90 55 05-54
wyden@edicto.de

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