CoinRoutes, a crypto trading software provider, has been granted a U.S. patent for its latest enterprise trading solution.
The trading software provider, headed up by Wall Street veteran Dave Weisberger, successfully received a patent for its "Distributed Crypto-Currency Smart Order Router with Cost Calculator" this week. The firm's latest product is designed to help traders navigate crypto markets, which can be challenging with a plethora of data and venues, Weisberger told The Block.
The multitude of different exchanges listing cryptocurrencies at different prices and exchange-specific requirements creates issues for traders, making it difficult to execute trades when needed, the firm says.
CoinRoutes' latest product has humble beginnings, with its initial design being drawn up on a napkin in 2017 by CTO Ian Weisberger, Dave's son, according to the CEO.
The design allows CoinRoutes to offer a secure enterprise solution to each client, said Dave Weisberger. The firm does so "at a much lower cost than our competition, without cutting corners on the terabytes of crypto market data that inform the decision-making of our algorithms," he added.
"The award of our patent is recognition that CoinRoutes is providing our clients with a secure and cost-effective tool that wasn't previously available to digital asset traders," he concluded.
The software will allow traders to execute trades across centralized and decentralized exchanges, including dYdX and Uniswap. CoinRoutes will have no access to users' keys, Ian Weisberger noted.
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