Algoz taps Wincent to streamline its fiat-to-crypto onboarding process

Digital asset investment company Algoz announced a strategic collaboration with regulated market maker and over-the-counter Wincent.

Algoz shared the details of the new partnership in a press release sent to crypto.news on October 30. This announcement follows Algoz’s recent collaboration with Standard Chartered-backed Zodia Custody.

According to the announcement, Algoz will strengthen its partnership with Wincent to facilitate the onboarding of new investors. Thanks to this collaboration, investors such as family offices looking to enter the crypto market through Algoz will not need to convert their fiat currencies to crypto in advance, as is the case with many providers in the industry.

Wincent offers a solution to this obstacle. Algoz users can now invest using Tether (USDT), Bitcoin (BTC), and Ethereum (ETH) as well as other cryptocurrencies using US dollars, euros, or other fiat currencies. The partnership allows Algoz customers to exchange fiat directly for cryptocurrency, reducing the risks associated with exposure to unregulated providers.

Algoz noted that the collaboration with Wincent supports asset conversion based on already approved know-your-customer and anti-money laundering checks. These regulatory requirements are critical components of global crypto regulation, and various industry players see them as essential for the growth of the crypto market.

Because regulatory clarity is so important to the industry, many players are implementing measures to ensure customers can enter and exit safely. Regulated platforms like Wincent and corporate-backed providers like Zodia Custody contribute to this approach.

Quant Pro, the platform’s over-the-counter exchange solution, plays a central role in the partnership.

The solution for Algoz, Zodia’s custodial wallet, and Wincent’s know-your-customer and anti-money laundering integration add a layer of protection for users.

“The creation of our off-exchange clearing system, Quant Pro, using Zodia was the first breakthrough for investors as we were able to significantly reduce foreign exchange and management counterparty risk.”

Stephen Wundke is director of strategy and revenue at Algoz.

Wincent’s regulated market is breaking records at $3 billion to $5 billion in daily volume, with more than 300,000 daily transactions.