GSR, a global cryptocurrency trading firm, partners with Modex to help increase market support.
On cryptocurrency liquidity
In the crypto world, liquidity refers to the degree to which an asset can be quickly either bought or sold without the price being significantly affected. Market makers like GSR help to increase both accessibility and liquidity of cryptocurrencies to traders in real-time on a global scale.
The higher scope for the liquidity provider is to bring greater price discovery, underpinning some vital practices in the market such as hedging, whereas, for example in the commodities markets, companies must invest regularly to prevent their businesses from declines or increases in prices.
Designed as the governing currency of the Modex ecosystem, the MODEX Token has gained the trust of stakeholders ranging from individual end-users to large enterprises. The whole ecosystem is made both of a strong and active community and a set of products and services where new synergies between assets, users, and organizations are continuously created.
Joining forces with GSR only strengthens trust between members of our community and what the entire Modex team is continuously building, creating fertile ground for Modex to become a crypto liquidity powerhouse. Low liquidity for a company leads to wide bid-ask spreads in their order books and increased volatility, making it difficult for traders to get a fair price for their trade, something Modex is fairly preoccupied with to avoid fostering dramatic price swings mitigation, accommodating large institutional investors, assisting with fair price discovery and more orderly entry and exists points for traders.
From a simple thought to a real partnership
What proved to be an exploratory conversation three years ago, based on mutual trust and interest in each company’s core business between GSR and Modex turned into a real partnership today. In this timeframe, the global leader in crypto trading and market-making, GSR produced a clearly defined list of services, expanded its team capacity, and established itself more strongly in the market, leading to a second conversation which turned out to be the right timing on both ends for this partnership to become reality.
GSR’s deep crypto market expertise going back more than nine years allows them to get a quick understanding of where a company stands in terms of product maturity and how to help add further value. In a crowded, noisy market it can be difficult to build trust, but this partnership is living proof that Modex headed in the right direction, all backed up by a strong authority in the market.
Founded almost ten years ago, in 2013, GSR is a global crypto market maker with over 250 employees around the globe. Among others, the leadership team includes technology executives from Goldman Sachs, Citadel, J.P. Morgan, and Two Sigma working with leading cryptocurrency projects, financial institutions, exchanges, funds, and miners. GSR’s trading technology is connected to over 60 cryptocurrency venues.
The GSR team has partnered with blockchain projects, providing liquidity for both centralized and decentralized venues to over 130 protocols.
Over the years, GSR has added names such as Binance, Bitfinex, and Fireblocks to their partnership portfolio, among many others.
Modex, one of the first companies to be registered as a Virtual Asset Service Provider by the Gibraltar Financial Services Commission, entered the market in 2017 and since then, it has constantly evolved. With a team of around 100 highly skilled members across four offices – London, Bucharest, Silicon Valley, and Gibraltar – Modex is working to prepare and deploy a mature decentralized network that can support a wide range of use cases and facilitate the seamless integration of blockchain technology into enterprise-level products and services. Recently, it launched its revamped MODEX Token with new Web3 capabilities.
Start trading and unlock the new Modex Network Web3 capabilities!