MG Stover, the self-described “largest digital asset fund administrator,” has partnered with Coin Metrics to provide its users a second form of price validation.
Speaking on the matter is Seth Altman, the Head of Blockchain and Digital Assets at MG Stover, who said:
“As more institutional investors evaluate the space, we go above and beyond to support institutional measures. One part of that is utilizing and collaborating with other service providers that share that same mission.”
The CEO of Coin Metrics, Tim Rice, agrees with this sentiment, stating:
“Given price variability across crypto exchanges, having a reliable whole-market fixed price is important for the proper valuation of institutional portfolios. MG Stover’s move brings greater rigor to the space.”
Coin Metrics has experience providing financial information for groups in the cryptocurrency space as well, and their platform “streams USD price benchmarks and provides transparent, reliable pricing for more than 200 digital assets,” the release notes.
They provide both automated and human-reviewed rates, and it abides by the IOSCO Principles of Financial Benchmarks as well.