Tuned Uses Nash Link to Power Novel Trading Platform
In the fast-moving and increasingly complex world of cryptocurrency, platforms do not have the time to develop all the components they need to operate from scratch. As the sector becomes more established, specialist companies are developing clear proficiencies in specific areas that platforms can tap into in order to grow faster.
An example of such a partnership is one between Nash and Tuned. Tuned, a cloud-based multi-exchange digital asset trading platform designed for quantitative traders and everyday investors, recently adopted Nash Link, a solution allowing merchants to more easily accept digital assets from customers. Merchants can accept crypto without setting up a wallet or worrying about risk management.
Merchants accepting Nash Link receive digital assets which Nash converts on its exchange before settling with merchants in national currency. Neither the merchant or the customer are charged processing fees.
Tuned was established to provide tools for traders to design and automate strategies which they can then make available to others who pay a fee to access that knowledge. It’s a departure from the traditional environment where establishment players wouldn’t dream of sharing that information.
“Wall Street and financial institutions have traditionally dominated markets by monopolizing talent and exercising a technology advantage over retail traders,” cofounder and CBO Anurag Gulati said. “So we are arming the rebels.
“We bring value to consumers by allowing them to develop automated trading strategies so they don’t have to sit around. This was one of the biggest problems back in 2017 when we were getting deeper into crypto and we realized it’s a 24/7 market and not similar to the stock market. So you need something that’s going to watch your back over a period of time.”
Investors agree, cofounder and CEO Alkarim Nasser added. Launched a mere nine months ago, Tuned has processed more than $150 million in trading volume.
Nash’s technology makes Tuned’s goals a reality, Mr. Gulati explained. The number of coins it provides access to and the bridges to many exchanges allows investors to trade assets that do not exist on other exchanges. Nash Link’s payment acceptance and invoicing protocols power Tuned’s distribution. That allows Tuned to avoid having to hold the crypto themselves and instead lets them be the product on top.
“That entire type of structure really enables our business,” Mr. Gulati said. “We could scale quickly without having to develop the infrastructure ourselves.”
Nash executive sales leader Kellogg Fairbank said while there are many advantages to using cryptocurrency, past merchant buy-in has been patchy because of a poor user experience. That has begun to change in the past year.
One of the big impediments to merchant adoption were crypto settlement times. Nash Link addresses that on their platform by completing OTC trades on its end so nobody has to wait for block confirmations.
“Everything’s really improved in the last year and now with PayPal coming into the market it brings a lot more attention to crypto and crypto payments themselves,” Mr. Fairbank said.
Add in recent activity from Grayscale and Square and you have more mainstream confirmation of cryptocurrency’s viability and that is good. PayPal’s offering will improve perhaps as soon as next year when it adopts an open-loop system where wallet holders can purchase and exchange other cyrptos like they can with fiat. That’s 360 million instant wallets.
Nash Link has the potential to help drive cryptocurrency adoption in emerging and developing economies which have volatile fiat currencies. More people are taking control of their own investing while fearing even putting their money into a back account when the interest earned doesn’t even cover currency depreciation. Now they have the ability to mitigate that risk by depositing that local currency and have it converted into a USDT stablecoin.
The same logic will drive merchant adoption, given they don’t have to worry about how much that volatile crypto will be worth when they cash out. Now they are assured if they take in $100 they get $100. Nash Link will earn their income on the exchange.
“That’s the cloth that Nash is cut from which is a little different than the traditional payment companies,” Mr. Gulati said.
Tuned offers tools that can be deployed by both novice and sophisticated investors. Experienced participants can write and then test an algorithm across multiple variables. Once it is proven to work they are welcome to monetize it. Those considering purchasing the strategy can access audited information directly from Tuned.
“We get that data from our data base and not something that they input,” Mr. Nasser said. “They can’t inflate that performance.”