Elwood Technologies, which is owned by billionaire Alan Howard, has agreed with Bloomberg to “strategically integrate” the platform into the news agency’s order management system, The Block reports.
Bloomberg Asset and Management Investment Manager (AIM) is used by 15,000 clients with more than $17 trillion in assets. Elwood Technologies helps banks and fintech firms access cryptocurrency liquidity through APIs. According to the press release:
“The integration will combine Elwood’s institutional cryptocurrency trading capabilities with Bloomberg’s data, analytics and workflow tools. This will allow financial institutions and investment managers on the AIM platform to transact digital assets as part of a single investment process.”
The merging of systems will be completed in the second quarter of 2022.
James Stickland, CEO of Elwood Technologies, said:
“We will simplify institutional access to the crypto markets.”