Digital asset trading platform Bitifinex has announced they have secured a new client in the form of a hedge fund with Fulgur Alpha, a $280 million Bahamas-based absolute returns crypto hedge fund. The new cooperation between the firms means Bitfinex can consolidate its position as a go-to place for institutional investors in the crypto space.
Bitifinex is leveraging its position as a one-stop shop for crypto trading by offering a number of different services and access to a perpetual swap contract through its affiliate iFinex Financial Technologies Limited. While crypto exchanges BitiMEX and Gemini briefly went offline last week due to market turbulence, which saw the bitcoin price plunge by 50 percent, Bitifinex managed to process trading volumes that exceeded $1 billion.
By onboarding the crypto hedge fund, Bitifinex secures its place as an exchange offering a robust trading infrastructure meeting institutional investors’ requirements. Fulgur Alpha’s launch on Bitifinex will put the hedge fund among the three biggest on an exchange, widely recognised as a leading liquidity provider in bitcoin.