Crypto brokerage Bitcoin Suisse invests $3M in trading software provider CoinRoutes

Investments • October 22, 2019, 10:50AM EDT
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Cryptocurrency brokerage and custodian Bitcoin Suisse has invested $3 million in trading software provider CoinRoutes.

Announcing the news on Tuesday, Bitcoin Suisse said it has acquired a “sizeable minority" stake in CoinRoutes’ U.S. unit with the investment. It did not disclose the percentage of the stake acquisition.

CoinRoutes’ algorithmic trading software, which sources cryptocurrency price data from over 40 exchanges, is the primary reason for the investment. “We have been absolutely satisfied with [“CoinRoutes’] technology for the past year,” said Niklas Nikolajsen, chairman of the Bitcoin Suisse Group.

Technology provided by CoinRoutes allows Bitcoin Suisse to execute trades at the “best prices across all major crypto asset exchanges,” per the announcement.

As part of the investment, Nikolajsen is also joining the board of directors of both CoinRoutes’s U.S. and Switzerland units.

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Yogita Khatri profile picture Yogita Khatri

Yogita Khatri is a senior reporter at The Block and the author of The Funding newsletter. As our longest-serving editorial member, Yogita has been instrumental in breaking numerous stories, exclusives and scoops. With over 3,000 articles to her name, Yogita is The Block's most-published and most-read author of all time. Before joining The Block, Yogita wrote for CoinDesk and The Economic Times. You can reach her at [email protected] or follow her latest updates on X at @Yogita_Khatri5.

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