Qredo and HedgeGuard partner to solve crypto asset liquidity lockups
Qredo, a cross-chain liquidity protocol, will integrate with the HedgeGuard portfolio management system to enable new trade capabilities for HedgeGuard users.
HedgeGuard is a portfolio management system designed to give hedge funds and asset managers the tools to manage, monitor, and develop their investment portfolios. Founded in 2006, HedgeGuard is a cloud based SaaS product targeted at institutional buy-side investors such as Hedge Funds, Asset Managers, and Family Offices. In 2019, the company launched a portfolio management system designed for traditional investors interested in crypto assets, crypto-funds, and existing institutional investors. The HedgeGuard crypto-PMS is used by crypto funds Napoleon X and Frijit capital in Europe and JST in the US. Crypto exchanges Coinbase, Bitstamp, and Kraken also use the HedgeGuard system.
Qredo is a cross-chain liquidity protocol for the tracking and settlement of crypto assets. Qredo aims to provide a solution to counterparty and centralized private key management risks. At present, there is a single-point-of-failure risk that users must accept when using private keys. Qredo solves this with the use of a consensus-driven multi-party computation (MPC) network and decentralized custody solution.
As well as a secure and decentralized custody solution, the Qredo network can function as a secondary network where assets can move and settle quickly. The Qredo team sees its technology as part of the infrastructure needed to deliver smart-contract-based financial services to institutions. The first step towards this vision is the launch of a cross-chain automated market maker (AMM) that will sit on top of its blockchain platform. The AMM will serve as a cross-chain decentralized exchange, allowing users to trade assets with any counterparty.
Qredo users no longer need to pre-fund exchange wallets giving them easy access to the DeFi ecosystem with no counterparty risk. Market participants can extend trade credit to each other based on the value of the assets stored in their wallet. Approximately 33 asset managers and hedge funds, custodians, and crypto exchanges have joined Qredo’s pilot program.
Qredo’s new partnership with Hedgeguard is designed to unlock liquidity to make trading easier. The integration will give Hedgeguard users the means to broadcast liquidity to network members without needing to lock, commit, or fund exchange wallets. The integration will enable cross-chain liquidity unlocking new trading strategies such as complex arbitrage opportunities across multiple blockchains. Users can also take advantage of various yield opportunities across the DeFi ecosystem when they supply crypto assets to liquidity pools.
Imad Wardé, Founder and CEO at HedgeGuard says the new integration with Qredo will enable HedgeGuard to deliver trade credit without settlement or delivery risk. “The integration of Qredo’s cross chain liquidity protocol will have a meaningful impact on our customer’s capital efficiency and profitability across our diverse client base,” he added.
Brian Spector, Chief Product Officer and Co-Founder at Qredo said Qredo aims to increase liquidity across blockchains ensuring interoperability, and reducing slippage and trading fees. "By partnering with portfolio management system HedgeGuard, Qredo can deliver value on both the buy-side and sell-side – we think will enhance the value of Qredo and Hedgeguard’s network for all participants,” he said.
Traders and liquidity providers that sign up with Qredo will receive pre-mined governance tokens that reduce trading costs and provide voting rights to shape the future direction of the protocol.
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