Episode 51 Season 4 of The Scoop was recorded remotely with The Block’s Frank Chaparro and James Stickland, CEO of Elwood Technologies.
Elwood Technologies, an Alan Howard-backed digital asset platform that is building trading infrastructure for institutional investors, closed in $ 70 million Series A last month it was co-directed by Goldman Sachs and Dawn Capital.
In this episode of The Scoop, Elwood CEO James Stickland meets with host Frank Chaparro to discuss Elwood’s recent fundraiser and to provide a closer look at the institutional activity taking place in the cryptocurrency market.
According to Stickland, institutional exposure to cryptocurrencies “is more in the derivatives part of the market”, largely due to the profitable spreads:
“Cryptocurrency specialists are still able to make spreads through which they can drive buses. Which is great for them, which of course is creating FOMO and, with its synthetic nature and ability, is driving that real appetite. “
While derivatives are, for now, the magnitude of many institutions’ exposure to cryptocurrencies, Stickland says regulatory clarity around digital assets “will really allow for on-the-spot engagement and budget-keeping.”
Stickland believes that the combination of upcoming regulatory clarity along with a stronger market infrastructure has a strong impact on the long-term market:
“Getting great prime, getting great credit approved services, and regulator making a call – that plus having a real stable infrastructure, lights this thing up beyond belief.”
During this episode, Chaparro and Stickland also discuss:
- Market liquidity conditions
- The evolution of the neo-banks
- Crypto “dark pools”
This episode was brought to you by our sponsors Fireblock, Coinbase Prime & Cross the river
Fireblocks is an enterprise-grade platform that offers a secure infrastructure for moving, storing and issuing digital assets. Fireblocks enables exchanges, lending desks, custodians, banks, trading desks and hedge funds to securely scale digital asset operations through the Fireblocks network and MPC-based portfolio infrastructure. Fireblocks serves over 725 financial institutions, has insured the transfer of over $ 1.5 trillion in digital assets, and has a single insurance policy that covers assets in storage and in transit. For more information please visit www.fireblocks.com.
About Coinbase Prime
Coinbase Prime is an integrated solution that provides institutional investors with an advanced trading platform, secure custody and first-rate services to manage all of their crypto assets in one place. Coinbase Prime fully integrates cryptocurrency trading and custody on a single platform and offers customers the best all-in prices in their network using their proprietary Smart Order router and algorithmic execution. For more information visit www.coinbase.com/prime.
About Cross River
Cross River is powering today’s most innovative crypto companies, with banking and payment solutions you can rely on, including fiat on / off ramp solutions. Whether you are a cryptocurrency exchange, NFT market or wallet, Cross River’s API-based all-in-one platform enables banking-as-a-service, ACH and wire transfers, push-to-card disbursements, real-time payments and virtual accounts and subledgers. Request now your on / off ramp solution fiat a crossriver.com/crypto.
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