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Digital Asset Data Provider Amberdata Acquires Crypto Analytics Company Genesis Volatility

The deal will allow Amberdata to expand its DeFi analytics offerings to institutional clients, which include Citi, Fidelity and Nasdaq.

Updated May 9, 2023, 4:00 a.m. Published Oct 25, 2022, 3:37 p.m.
Amber (Pixabay)
Amber (Pixabay)

Amberdata, a provider of digital asset data to financial institutions, has acquired Genesis Volatility (GVol), a crypto options and derivatives analytics firm.

The purchase will allow Amberdata to expand its decentralized finance (DeFi) products, offering support for protocols such as Friktion, Ribbon and Lyra, according to an announcement shared with CoinDesk. The company's institutional clients include Citigroup (C), Fidelity and Nasdaq (NDAQ).

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Financial terms of the deal have not been disclosed.

GVol already provides exchanges such as Deribit and LedgerX with analytics data from centralized finance (CeFi) and DeFi options markets.

"Many of the big proprietary trading firms are very interested in options," Shawn Douglass, CEO of Amberdata, told CoinDesk. "I think that it's going to be the next evolution of DeFi."

"Nasdaq and Citi are big options players and they see this as a massive growth area for DeFi, as well as for the institutionalization of crypto," he added.

Nasdaq Ventures and Citi were among the investors of Amberdata's $30 million Series B funding round in May, which also included cryptocurrency exchange Coinbase (COIN) and crypto lender Nexo.

Read more: Data Provider DeFiLlama De-emphasizes Double-Counted Crypto Deposits After Saber Revelation







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