Covario Messenger powered by Telegram
Covario AG, the Swiss-based prime broker for digital asset managers, has just released its regulatory-compliant messenger application, powered by Telegram.
Covario Messenger is an application for regulated financial services companies to communicate via a fully-auditable platform, using the API of the highly successful Telegram application. Messages within Covario Messenger will be stored, complying with financial markets best practices and meeting regulatory standards set by FINMA in Switzerland, as well as most other globally-recognized regulatory bodies.
Mark Banner, CEO of Covario commented on the release: “Institutional investors continue to allocate to digital assets, an asset class where a large amount of trades are conducted over-the-counter, via voice or chat. Telegram has become the market standard and chosen messaging platform for its security and privacy, however, certain features of the native application prove challenging to the highly-regulated financial services industry. Rather than introducing a new service, our approach was to bridge the two worlds by keeping only our client interactions compliant, while leaving all data and use of the native application segregated and private from Covario.”
Sharing Telegram’s vision, Covario’s Messenger is open-source. Covario is making its Messenger code publicly available on GitHub and welcomes other financial institutions to use it and build on it, fostering collaboration with other regulatory-compliant fintech firms.
Based in Switzerland, Covario AG is an independent prime broker for digital asset managers. It offers trade execution services including direct market access, best execution, and OTC trading, alongside securities lending, margin financing, custody, and capital introduction. The team unites decades of experience building large-scale trading and risk management systems with a deep understanding of the asset management industry.
For more info, please check out our Git repository at www.github.com/covario or email pr@covar.io.
