CoinDesk has recently made a significant strategic move in the crypto data industry by acquiring CCData and CryptoCompare. This acquisition will enhance CoinDesk’s data offerings, including the CoinDesk Indices and the CD20 index. CCData, a U.K.-regulated benchmark administrator, is known as one of the top digital asset data and index solutions providers in the market.
With this acquisition, CoinDesk aims to leverage CCData’s expertise and reputation in the digital asset data space. The company’s CEO, Sara Stratoberdha, expressed excitement about integrating CCData’s high-quality data platform and retail suite into CoinDesk’s existing products and services. This integration is expected to provide greater opportunities for customers seeking reliable and trustworthy digital asset data.
CoinDesk’s CoinDesk 20 index, launched earlier this year, is a comprehensive cryptocurrency market benchmark designed to be the equivalent of traditional indices like the S&P 500 or Dow Jones Industrial Average in the crypto space. Bullish, the owner of CoinDesk, offers perpetual futures based on the CD20 index, and companies like GSR have already executed options trades linked to it. Additionally, Onramp Invest has incorporated the CD20 Index for Registered Investment Advisors, offering a standardized digital asset performance benchmark for portfolio evaluation.
The acquisition of CCData and CryptoCompare signifies CoinDesk’s commitment to strengthening its position in the crypto data industry and providing enhanced services to its customers. This strategic move is expected to drive innovation and growth within the company, as well as in the broader digital asset data market.
Overall, the acquisition of CCData and CryptoCompare by CoinDesk marks a significant development in the crypto data industry. It underscores the importance of reliable and accurate data in the cryptocurrency market and highlights the growing demand for sophisticated data solutions among investors and market participants. CoinDesk’s decision to acquire these prominent data providers demonstrates its dedication to delivering top-tier services and products to its clients, further solidifying its position as a key player in the crypto data space.