AlphaPoint Integrates TUSD, Adds CBOE Executive

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New York-based AlphaPoint, a blockchain-oriented firm that provides crypto exchange operators with technology solutions, announced on Tuesday that it had integrated TrueUSD (TUSD), a stablecoin that came out earlier this year. The integration of TUSD, which is traded in parity with the US dollar, will allow AlphaPoint’s digital asset exchange to add the stablecoin for trading against other coins and fiat currencies.

As of today, AlphaPoint has over ten cryptocurrency exchanges listing TUSD, including DCEX and Dasset. The company is confident about the fiat-backed coin, as it is managed by TrustToken, an asset tokenization platform that has allowed five audits related to the TrueUSD. The stablecoin has been audited by security companies from the US and China. To ensure a high degree of transparency, TUSD uses several US Trust and bank partners to mitigate banking risk and guarantee legal protections of holders’ USD deposits.

AlphaPoint co-founder and president Igor Telyatnikov commented:

“We are thrilled to offer our customers around the world the ability to interact with a market-leading stablecoin, like TrueUSD, which improve market liquidity and velocity, and increase the efficiency of global digital asset trading. The more that crypto and digital assets become fungible, the more the entire marketplace will benefit.”

TrustToken co-founder and CEO Danny An stated:

“The integration with AlphaPoint allows TrueUSD to continue to reach investors in new markets, better serve the demand for trusted stablecoins, and further contribute to the emerging token economy.”

“AlphaPoint’s growing network of exchanges and digital asset infrastructure will help perpetuate the adoption of TrueUSD globally as we continue to be recognized as the as the reliable stablecoin, amid today’s uncertainty surrounding cryptocurrency and surpass a $175 million market capitalization milestone,” he said.

AlphaPoint operates a customizable blockchain platform that can be used by institutions worldwide to digitize assets and launch and manage markets. The company claims that its proprietary technology can handle about one billion transactions per second.

CBOE’s Head of Equity Options Joins AlphaPoint
On Friday, AlphaPoint announced that it had named Kapil Rathi as global head of Trading Markets to manage the company’s trading and exchange business.

Rathi has extensive experience in the capital markets and electronic trading. Previously, he was leading the Equity Options at CBOE Global Markets, which provides Bitcoin futures trading solutions. At CBOE, Rathi was responsible with the management of Equity and Exchange-Trade Fund (ETF) options business strategy across the company’s four options exchanges. He reached CBOE after its merger with Bats, having a great contribution at expanding Bats Options business, where he worked as senior vice president of Options Business Strategy. Under Rathi’s managing role, the market share of Bats Options gained over 40% and hit record profit and revenue figures.

Before Bats, Rathi held various top positions at the International Securities Exchange (ISE) – a subsidiary of NASDAQ, New York Stock Exchange, and AT&T.

Rathi commented on his new role at AlphaPoint:

“Institutions have not only started to accept cryptocurrencies and digital assets but are also creating new financial products based off of them.”

“I have seen customer demand for new financial products in crypto grow over the past few years and I am very excited to join AlphaPoint, a company that is on the frontlines of helping institutions bring viable and successful products to market. AlphaPoint has constantly introduced new innovations and products in the crypto and blockchain space and helped financial institutions like banks, exchanges, brokers, and trading firms in embracing this remarkable technology, such as the newly announced smart baskets,” he said.

In September, we reported that AlphaPoint had added Invesco executive Dan Draper to its board of directors.

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