Presto, a leading algorithmic trading and financial services firm, today announced a strategic partnership with Avalanche, a next-generation blockchain platform, and StraitsX, Southeast Asia's pioneering digital assets payment infrastructure provider. This collaboration aims to enhance liquidity across key decentralized exchanges and strengthen the presence of Avalanche-based projects in Asian markets.
Under this partnership, Presto will serve as a key liquidity provider for AVAX tokens on prominent decentralized exchanges including LFJ. Additionally, the firm will provide liquidity support for XSGD, StraitsX's Singapore dollar-backed stablecoin, which recently expanded to the Avalanche Contract Chain (C-chain).
"This strategic alliance represents a significant step forward in strengthening the infrastructure of decentralized finance in Asia," said Sean Kim, Head of Corporate Strategy at Presto. "By combining Presto's algorithmic trading expertise with Avalanche's high-performance blockchain and StraitsX's regulated payment infrastructure, we are creating a more robust and liquid ecosystem for digital assets in the region."
“Presto has a proven track record in algorithmic trading and a deep understanding of Asian markets that will help accelerate the adoption of Avalanche-based projects in this region,” said Justin Kim, Head of Asia at Ava Labs. “I’m thrilled to see their work with Avalanche enhance liquidity across the ecosystem.”
Jason Tay, Head of Commercial at StraitsX, added, "This collaboration with Presto marks an important milestone in expanding XSGD's utility and accessibility. Their expertise in providing liquidity will be instrumental in ensuring efficient price discovery and deep liquidity for XSGD on Avalanche. By enhancing liquidity and enabling real on-chain FX, we are taking a significant step toward building a seamless, blockchain-powered FX market,furthering our mission to simplify blockchain-enabled cross-border payments and unlock new opportunities for businesses and users across the region"
The partnership comes at a crucial time as XSGD expands its multichain capabilities through Avalanche integration, joining existing networks including Ethereum, Polygon, Arbitrum, Hedera, and Zilliqa. This expansion, coupled with Presto's liquidity provision, will enhance the utility and accessibility of both AVAX and XSGD tokens in the Asian market.
Presto's involvement will facilitate:
Enhanced liquidity depth for AVAX tokens on LFJ
Improved market efficiency for XSGD trading pairs
Expanded access to Avalanche's ecosystem through improved liquidity
About Presto
Presto is an algorithmic trading and financial services firm founded in 2014. Presto is committed to delivering exceptional value for clients through a rigorous research-driven approach to investment and trade execution. With more than a 100 million trade executions in a day, Presto is a leading financial services firm in both digital assets and traditional finance markets.
About Avalanche
Avalanche is a next-generation blockchain platform built for scalability and high performance. Its revolutionary Layer 1 architecture is powered by the Avalanche Consensus Mechanism, enabling near-instant transaction finality. Additionally, the platform’s open-source Layer 0 framework facilitates the creation of interoperable Layer 1 blockchains, delivering high throughput across public and private networks.
Backed by a robust global community of developers and validators, Avalanche offers a cost-effective, fast, and flexible environment for decentralized application (dApp) development. With its focus on speed, adaptability, and scalability, Avalanche is the go-to solution for projects at the forefront of blockchain innovation.
Discover more about Avalanche at avax.network.
About StraitsX
StraitsX is the pioneering payments infrastructure for the digital assets space in Southeast Asia. StraitsX is a Major Payment Institution licensed by the Monetary Authority of Singapore and offers personal and business account holders to mint and redeem StraitsX stablecoins, manage payments as well as connect their accounts to digital asset platforms. Business accounts can also access B2B API-enabled payment rails for digital asset platforms.
For media inquiry, please contact: thomas@prestolabs.io or @thomas_presto on Telegram
