Digital asset trading firm STS Digital acquires Swiss cryptocurrency market maker flovtec

On August 14th, according to The Block, digital asset trading company STS Digital acquired Swiss cryptocurrency market maker flovtec to expand its market-making capabilities and enhance liquidity solutions. The press release stated that STS Digital specializes in over-the-counter trading and market making, and believes that the strategic acquisition of flovtec will "significantly accelerate its market-making services" because "this will provide deeper liquidity and smaller spreads for flovtec's existing clients." Possible enhanced services include regulated custody, customized liquidity solutions, and trading strategies. The acquired company's trading infrastructure and proprietary algorithms will be integrated into STS Digital's existing platform. STS claims that this will "facilitate the development of new innovative trading products and services." In addition, flovtec's regulation in Switzerland may help STS Digital expand in the European market.