Thomson Reuters to track 50 crypto assets through CryptoCompare partnership
Thomson Reuters, the Canadian information and mass media company, has announced a partnership with cryptocurrency tracking firm CryptoCompare. The agreement will see Reuters list information of the top 50 digital assets on its Eikon platform, which is designed primarily for institutional investors.
CryptoCompare will deliver order book and trade data for the assets to Reuters, which the latter will incorporate into its current offerings. Sam Chadwick, director of strategy and innovation and blockchain at Reuters, said that the company decided to include crypto assets following an increase in customer demand. He further stated that the lull seen in the markets over the past six months has not been a deterrent to investor interest and that the company has continuously been pressed to offer crypto data.
Last month, Reuters signed a partnership with MarketPsych Data to track 100 cryptocurrencies through the firm’s sentiment data pool. That pool collects crypto data from a variety of news and media sites to be used in Reuters MarketPsych Indices (TRMI).
Institutional investing is predicted to be the largest growth segment for digital assets this year and could help drive prices to new, unprecedented levels, with some anticipating gains of as much as 400%. CryptoCompare founder and CEO Charles Hayter said, “As the digital asset markets mature, we see a fast-growing demand from the institutional investor community for comprehensive, real-time and global market data, which can be trusted as the basis for investment decisions.”
According to Reuters, the tracking data from CryptoCompare will be pooled using a "wide variety of trusted exchanges." While the information platform will be ready at some point this year, an exact launch date was not given.