30 October 2024
Wormhole Foundation, the team supporting the development of Wormhole’s decentralized platform, today announced a strategic partnership with Flow Traders Ltd. (Euronext: FLOW), a leading global technology-enabled liquidity provider and market maker. As a first step in this partnership, Flow Traders has made a strategic investment in Wormhole and will join its solver network, aiming to enhance the speed and efficiency of multichain swaps. Alongside Flow Traders, Google Cloud and AMD are other infrastructure providers contributing to Wormhole, with established security and hardware acceleration partnerships, respectively.
Flow Traders will be the first trading firm to join Wormhole’s solver network, supporting the newly launched Composable Intents product, providing enhanced liquidity, speed of execution and cost-effective multichain token swaps to Wormhole’s users.
Flow Traders joining as a solver
As a solver for Wormhole’s Composable Intents product, Flow Traders will leverage its extensive experience in providing liquidity across the TradFi and DeFi ecosystems and apply it throughout Wormhole’s network. Solvers on the Wormhole platform compete in real-time to fulfill cross-chain transfer requests, ensuring users get the best rates and most efficient transactions. By becoming a solver, Flow Traders will support by providing increased availability to liquidity and execution speed for cross-chain swaps.
"We're thrilled to partner with Wormhole, both as an investor and a solver. Their focus on scalability and transparency aligns perfectly with Flow Traders' mission and objectives in the DeFi space. Given our role across the ecosystem, we have a unique perspective into the factors driving digital asset adoption and one of the biggest challenges we see is the fragmentation within multi-blockchain ecosystems. To enable broader adoption of digital assets, it's essential to simplify and unify the ecosystem while enhancing interoperability, making it more cost-effective and accessible for all participants. Wormhole is addressing this challenge, and we believe their innovative approach will be pivotal in driving the next wave of adoption," stated Michael Lie, Global Head of Digital Assets at Flow Traders.
The strategic partnership with Flow Traders signals continued momentum for Wormhole Institutional, coming on the heels of a recently-announced partnership with Securitize (the leader in tokenizing real-world assets in partnership with renowned asset managers, such as BlackRock, Hamilton Lane, KKR & others), leveraging solutions tailor made for the growing institutional demand for interoperable blockchain solutions in capital markets and tokenized assets. Wormhole’s Native Token Transfer (NTT) framework has created a fast, secure, and scalable network for multichain transfers and has become the infrastructure of choice for institutions, trading firms, stablecoin issuers, and more.
“Institutional demand for a unified network is stronger than ever, and with Composable Intents, Wormhole is turning complex, multistep cross-chain actions into single, unified transactions, simplifying user experience and opening new possibilities for capital markets participants entering crypto. By adding Flow Traders deep expertise, Composable Intents will allow for complex, multichain transactions workflows, accommodating to the needs of all users in a fast, cost-effective manner,” added Robinson Burkey, Co-founder of Wormhole Foundation.
Composable Intents
The Composable Intents platform represents a novel approach to cross-chain transactions, allowing for fast, secure, and cost-efficient token transfers and swaps across multiple blockchains. By utilizing Wormhole Messaging, Composable Intents enables apps to perform complex cross-chain actions in a single unified transaction. This is critical for ensuring that both users and builders experience a seamless, scalable process for everything from transferring assets to performing swaps directly within apps.
The Composable Intents platform is designed to power intents-based transfers and enable any-to-any swaps, with the flexibility to handle diverse liquidity needs. The Liquidity Layer concentrates liquidity on Solana using stablecoins like USDC to facilitate transactions for users and enables secure and efficient cross-chain transactions in the most efficient manner. Composable Intents serves a broad range of users, and prioritizes speed, liquidity, or cost-effectiveness.