Popular cryptocurrency exchange Bitfinex has recently announced that it’s partnering with Market Synergy GmbH, a Swiss-based company that operates a trading network for banks, brokers, and hedge funds to trade cryptocurrencies, in a move that’s set to bolster its connections to institutional investors.

According to a press release, the Swiss-based firm is set to help institutional investors have 24-hour access to Bitfinex’s cryptocurrency trading pairs, as it built a network tailored for the cryptocurrency exchange, hosted in a Swiss data center.

The goal is for the exchange to be able to provide institutional clients “robust, high performance connectivity.” Earlier this year, Bitfinex partnered with matching engine technology provider Connamara to create a Financial Information eXchange (FIX) gateway, which will now be improved through Market Synergy.

The Swiss-based company is reportedly going to attach it a FIX-based data feed, along with internet-service-provider (ISP) links to firms looking to access the gateway. Market Synergy is notably a part of the FXecosystem Group, which is also comprised of FXecosystem and Bondecosystem, two companies that cater to the FX and bond markets.

Commenting on the partnership, Market Synergy’s CEO James Banister stated:

As the demand for cryptocurrency trading gathers momentum, we spotted a gap in the market for an institutional calibre cryptocurrency connectivity offering. Following over two years of research and planning, we have launched Market Synergy to take us into a new asset class, with the aim of becoming the leading institutional outsourced connectivity provider in the cryptocurrency space.

Banister further revealed that his company “worked very closely with Bitfinex to evaluate their needs, select the ideal data centre, and set up the correct infrastructure to create a bespoke network with connections to their digital asset gateway for professional traders.”

Bitfinex, which recently saw its chief strategy officer Phil Potter leave, isn’t the only cryptocurrency-related company looking to cater to institutional investors. As CryptoGlobe covered, crypto wallet provider Blockchain has recently created a platform tailored for institutional clients.

The exchange has, however, been embroiled in controversy as its closely associated with Tether Ltd, which issued the USDT cryptocurrency, supposedly pegged to the US dollar 1:1. Critics claim the stablecoin isn’t really backed, and that suspicious trading activity points to market manipulation.

Tether and Bitfinex argue the funds are fully backed, and the company has released a report created by the law firm of an ex-FBI director, which backs up its point, although the report stopped short of an official audit.

The exchange, based in the British Virgin Islands, has faced criticism earlier this year as it revealed it could share its customers’ data with local tax authorities, a move met with strong opposition.