AllianceBlock Partners with Covalent to Enrich the Data Ecosystem of Decentralized Capital Markets
The AllianceBlock team is delighted to announce our partnership with blockchain data analytics company Covalent.
The mutually beneficial partnership will see AllianceBlock provide Covalent with access to all onchain financial data that will be generated through its protocol and ecosystem. In a further step towards bridging the worlds of traditional and decentralized finance, Covalent will also have access to the data providers that operate on AllianceBlock’s decentralized capital market infrastructure. This will greatly strengthen Covalent’s marketplace while enhancing the decentralized capital market ecosystem.
In return, AllianceBlock will access Covalent’s data API, leveraging it to build a wide variety of products such as Regulated Digitized Derivatives and the AllianceBlock Investment Terminal. Covalent, who provide the richest and most robust data infrastructure for the entire blockchain ecosystem, will provide AllianceBlock with real-time, granular, and actionable blockchain data, which will aid greatly in the development of AllianceBlock’s solutions. AllianceBlock will be able to access historical blockchain data along with a cross-chain platform that leverages liquidity across multiple networks. The partnership will also allow AllianceBlock to further develop analytics and garner deeper insights into the traditional financial institutions who may want to access the burgeoning world of decentralized finance.
Rachid Ajaja, AllianceBlock’s Founder and CEO said, “The partnership between AllianceBlock and Covalent marks another step forward in our journey to developing a comprehensive bridge between the worlds of traditional and decentralized finance. Demand amongst traditional and institutional investors for decentralized products is increasing significantly, though to date, the technology to bridge these two worlds has been lacking. We are proud to be pioneering this field and our partnership with Covalent will make this endeavour undoubtedly more successful and fruitful for the ecosystem.”
All applications that choose to utilize AllianceBlock’s protocol will be able to employ Covalent’s data which is already used by industry leaders such as Coingecko, kyber network, and APY.vision, as well as other major data analytics platforms operating in the world of decentralized finance.
Ganesh Swami, Covalent CEO said “AllianceBlock is making significant strides toward bridging traditional and decentralized finance by identifying and overcoming the numerous hurdles that have previously prevented this — the lack of access to digital asset data being one. However, through this partnership, AllianceBlock users will have access to historical and granular blockchain data that will not only inform decision making but be leveraged to build financial instruments. Covalent is more than delighted to be the primary data provider of choice in helping AllianceBlock fulfil its mission.”
At AllianceBlock, it is our mission to build the first globally compliant decentralized capital market, and this partnership with Covalent is an incredibly important step towards achieving this goal. Cutting edge data analytics tools are essential for the success of the AllianceBlock Protocol and we are delighted to enhance our market position by partnering with Covalent in pursuit of achieving this standard.
AllianceBlock is building the first globally compliant decentralized capital market. The AllianceBlock Protocol is a decentralised, blockchain-agnostic layer 2 that automates the process of converting any digital or crypto asset into a bankable product.
Incubated by three of Europe’s most prestigious incubators: Station F, L39, and Kickstart Innovation in Zurich, and led by a heavily experienced team of ex-JP Morgan, Barclays, BNP Paribas, Goldman Sachs investment bankers, and quants, AllianceBlock is on the path to disrupt the $100 trillion securities market with its state-of-the-art and globally compliant decentralized capital market.
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Covalent provides a unified API to bring full transparency and visibility to assets across all blockchain networks. Covalent’s proprietary technology enables a “no-code” solution that solves a vast array of use-cases for wallets, exchanges, custodians and taxation amongst others. The API allows easy access to data that is normalized, unified and granular.