Driven by Innovation and Premier Technologies, Radkl Will Focus on Proprietary Trading and Investing Strategies in Digital Asset Markets
Point72’s Steven A. Cohen Has Agreed in Principle to be an Early Investor
Radkl, a pioneering digital asset investment and proprietary trading firm, was launched by partners of GTS today. Point72’s Steven A. Cohen has agreed in principle to provide the company with an initial investment.
The business will bring the technology and quantitative trading expertise of GTS to the digital asset world. Mr. Cohen is expected to provide financial backing for the venture but will not be involved in the day-to-day operations of the company.
Radkl’s initial focus will be quantitative trading across digital assets. Radkl will extend these capabilities into the growing DeFi universe over time. Radkl is focused on building a team of engineers, data scientists and other world-class technologists.
Ari Rubenstein, co-founder and CEO of GTS, said, “Digital assets will change the face of finance, and Radkl will accelerate that process. GTS was instrumental in building today’s modern electronic markets and with Radkl, we now have a blank canvas. Our goal is nothing short of pioneering and implementing dramatic changes in financial technology which will yield unparalleled efficiencies for the global markets and the economy. Radkl is the future of finance.”
Recommended AI News: net2phone Introduces Phone App For Teams
“While the cryptocurrency market is now a $2 trillion asset class, we are still in the early stages of institutional adoption,” said Mr. Cohen. “As more professional investors enter this space, there’s a need for an institutional player like Radkl that engages in large digital asset transactions. This is a natural extension of GTS’ technology focus, and I am excited about the opportunity to support them in this initiative.”
Radkl’s initial team is already in place and trading is expected to commence in the fourth quarter of this year. It will be led by Ryan Sheftel, a partner at GTS, who has more than 25 years of experience working in trading and investing in the capital markets. He said, “There is not a company with the demonstrated finance and technology expertise of Radkl in the crypto space today. We have the capabilities and the vision to be an instrumental player in the evolution of CeFi and DeFi.”
Recommended AI News: Symend Recent Research Shows How Consumer Repayment And Engagement Behavior Is Changing Post-COVID
Comments are closed.