Crypto Firm Genesis Trading Acquires Quant Investment Firm Qu Capital

News | September 20, 2019 By:

Crypto firm Genesis Trading has announced the acquisition of the assets of Qu Capital, a New York-based quantitative investment and research firm. The terms of the deal have not been disclosed.

Founded in 2004, Genesis Trading operates as a trading company that provides over-the-counter (OTC) cryptocurrency trading services for institutional investors and high net worth individuals. A broker-dealer registered with the SEC, FINRA, and the New York Department of Financial Services, Genesis claims that it has facilitated billions of dollars in transactions since 2013.

Co-founded by Alex Price, Lucas Schuermann, and Edward Yu in 2017, Qu Capital has developed state-of-the-art trading technology including faster exchange connectivity, improved order routing, and advanced execution tools, and conducted quantitative research on the digital currency market.

According to Genesis, the acquisition will bolster its trading technology and quantitative research capabilities. As part of the deal, Genesis has hired two of the three founders Lucas Schuermann, Edward Yu and one junior staff member out of the six-person team at Qu Capital.

“We have been very impressed with the Qu Capital team and believe they will provide key technology enhancements that will benefit our trading and lending clients,” said Michael Moro, CEO of Genesis. “This acquisition is the latest effort to bolster our technology capabilities and intellectual firepower in order to better serve clients in an increasingly competitive marketplace.”

“Genesis is committed to offering best-in-class trading and lending technology solutions to our institutional counterparties,” said Pat DeFrancesco, CTO of Genesis. “We are excited to add the Qu Capital tools, which incorporate machine learning and other advanced methodologies, into our existing technology stack and new product offerings.”