TradeBlock announced on July 18 that it will collaborate with Boston-based "enabler of global startups," FinTech Sandbox. TradeBlock provides blockchain analysis tools to financial institutions.
Sandbox users will be able to have free access to the blockchain data of TradeBlock’s API and download and store the information for up to six months for testing and demonstration purposes. TradeBlock’s analytics and accounts manager, Ishan Singh, said:
“The goal with this partnership is to empower early stage companies with access to the best data and tools available so that they can drive innovation. If we had the tools we’re offering when we were starting out years ago, we would have saved months of development time. We chose to partner with FinTech Sandbox given their unique model that focuses on providing resources to young, vetted companies for the benefit of the overall fintech community.”
FinTech Sandbox is a service created to provide financial data access to its members, offering a diverse set of analytics to its user base. Launched on March 26 and located in Boston's financial district, the company’s team is lead by Jean Donnelly, executive director.
With FinTech Sandbox, researchers can follow their data feed for a limited time to help grow and improve their business methods. According to their website, a six-month program offers:
- A set of data feeds and APIs from data partners, including Thomson Reuters, SIX Financial Information, FactSet, Xignite, Tradier, Plaid, and Benzinga,
- Cloud hosting from Amazon Web Services,
- Membership in a global FinTech community, and
- Limited space for coworking and events.
With its implementation of TradeBlock services, Sandbox will offer insight into trading indexes, blockchain data and mining research. Users can get more insight into distributed ledger technology using the blockchain analysis company’s features, offering visual analytics to insights, order management, and trade executions.
Users have direct access to APIs and custom algorithms. Jean Donnelly, FinTech Sandbox executive director, said, “We see increased interest from incumbent Financial Institutions in digital ledger technology. They are looking for partnerships with startups with this expertise. That's one of the reasons we are excited to partner with TradeBlock." Singh told Cointelegraph:
“With the high concentration of world-renown universities, Boston is clearly among the leading cities driving innovation in the United States. We’ve also seen notable institutional adoption there, with a handful of our clients based in the Boston area.”
TradeBlock received a $2.8M seed funding from an investment round on July 16, 2014. Created by co-founders Jeff Schvey and Greg Schvey, the company is aimed to be the portal for blockchain data and digital currency analysis, watching everything involved with trades, regulations, protocol updates and mining. Singh said:
“Our data is extremely reliable given substantial infrastructure investments made over the course of the last three years, in addition to the daily cleansing and monitoring processes we have in place. Our live data feeds are available on a push or pull basis with uptime in excess of 99.99%.”