Crypto asset management and accounting platform Blox will introduce its technology to crypto exchange IDEX’s users thanks to a new partnership, the firms announced in a press release on 25 November.
According to the press release, the technical collaboration between the two companies will see Blox introduce its crypto asset management platform and smart data technology to IDEX users, making their data more accessible.
The company will further provide users with a consumer-facing platform, which will enable them to track and manage their crypto assets and activities.
The CEO of IDEX, Alex Wearn, said:
“There’s a growing need among crypto investors and businesses for better access to and control over accounting and management of their crypto assets. We’re thrilled to collaborate with Blox to meet this need and introduce IDEX traders to robust tools that simplify and automate accounting and management processes.”
The press release further stated that while data is an important aspect of the crypto world, the data that users can get from decentralized exchanges like IDEX is usually “illegible and of little use”.
In order to make IDEX’s data more accessible, the Blox R&D team worked closely with the exchange’s smart contract to create a two-way approach to facilitate and understand its raw data.
Through its “Input/Output” approach, Blox is able to shift through the data and identify details such as internal/external transfers, wallet addresses, historical data, security encryption and more.
The CEO and founder of Blox, Alon Muroch, commented on the partnership:
“The Blox R&D team worked closely with the IDEX smart contract to make user data more accessible and provide a consumer-facing platform to track and manage their crypto assets or activity. It’s all about providing users or businesses with an accurate and complete picture of their crypto portfolio and we know this all begins with reliable data.”