A group of MIT graduates under the name Enigma Project announced in a blog post the launch of Catalyst – an algorithmic platform for trading in cryptocurrencies.
According to the post, the platform is geared towards developers and traders who want to build their own cryptocurrency hedge fund and investment strategies and take a slice of the recent digital currencies boom.
“Catalyst is a playground where developers, quants, and experienced traders can easily build, simulate, and eventually live trade cryptocurrencies using sophisticated programmatic strategies”, the blog post said. The plans are for regular investors to be able to invest in winning strategies through Catalyst. “With this, we’re hoping to make smart-investing in this new emerging asset class accessible to everyone”, the Enigma Project members added.
“A lot of people are starting to look into it, and invest in it, but it’s still very much kind of like the Wild West,” Guy Zyskind, cofounder and CEO Enigma, told the site Fast Company. He also explained that similarly to the stock market, where much of the trading is already done by AI algorithms, there is interest in this type of trading in the cryptocurrencies market.
In addition to the platform, the startup also launches a data marketplace to facilitate better investment decisions, as input data is of big importance to successful algorithmic trading and strategies based on AI models.
Another feature of Catalyst is to serve as a protocol to bridge existing and future cryptocurrency exchanges into a single, decentralized system that is fast, scalable and most importantly — keeps users in control of their funds.