December 5, 2023

Amberdata Announces Digital Asset Reference Rates

Amberdata’s institutional grade price reference rates adhere to international best practices for financial benchmarks, including IOSCO.

Miami, FL - December 5, 2023

Amberdata, the leader in digital asset data and analytics for institutional customers, today announced the launch of institutional-grade digital asset reference rates. Amberdata’s robust methodology considers trading volume and price dispersion across principal markets, allowing customers to confidently value assets, settle contracts, and make informed trading decisions. With hourly and daily rates across NYC, London, Tokyo, Singapore/Hong Kong, and Dubai, Amberdata ensures stability and reliability.

Reference rates play an important role for financial institutions, who use benchmark reference prices for reporting, making informed trading decisions, and settling contracts. BTC and ETH reference rates are currently available via REST API, with stablecoin rates and AWS S3 data delivery coming in Q1 2024.

Amberdata’s reference rates are SOC I and II compliant, GAAP-aligned, and adhere to the IOSCO Principles for Financial Benchmarks. Use cases supported include:

Trade with Benchmarks and Indices - Anchor trading activities, plan investment strategies, and gauge the immediate performance of the cryptocurrency market for algorithmic, high-frequency, and arbitrage trading.
Price Assets and ETFs - Value digital assets, price an exchange-traded fund (ETF), and calculate crypto investment products' net asset value (NAV).
Settle Contracts - Determine prices for contracts that require regular settlements, intraday trading, or adjustments and ensure that futures and options contracts settle at fair prices.
Hedge Risk and Maintain Compliance - Make strategic investment decisions, implement risk mitigation tactics to protect your portfolio, and adhere to trading and investment regulations.
Value Digital Assets - Use rates for accurate valuation of digital assets over short or long periods. Determine the value of cryptocurrency holdings at the moment of a transaction. Ensure accurate financial reporting, tax calculations, and tax compliance.

“Amberdata is excited to provide our customers with robust and stable reference rates based on a rigorous methodology we’ve developed,” said Shawn Douglass, CEO, Amberdata. "Unlike the competition, our methodology excels at accounting for the dynamic and volatile nature of digital assets. With four dimensions of weighting and fallback criteria, our reference rates fill a void for our customers and the digital asset industry as a whole.”

Read the official press release HERE.

About Amberdata

Amberdata is the leading provider of digital asset data, market intelligence and risk analytics. We deliver comprehensive data and insights into blockchain networks, crypto markets, and decentralized finance, empowering financial institutions with data for research, trading, risk, analytics, reporting, and compliance. Amberdata serves as a critical piece of infrastructure empowering the financial markets of the future.

To learn more, visit Amberdata.io.