American fintech company AlphaPoint has announced its membership in the Bermuda Monetary Authority’s Innovation Hub.

The innovation track was established by the BMA to operate as a platform for exchanging ideas and information around the digital transformation of global financial service sectors.

AlphaPoint said its participation in the Innovation Hub will provide interested member companies with access to industry leading financial technology solutions, primarily white label software for launching and operating crypto and digital asset marketplaces.

The BMA launched the Innovation Hub initiative in April 2018 in recognition of the growing importance of disruptive innovation in the insurance industry.

It has now expanded to include a wide breadth of technology partners that play critical roles in improving efficiency and driving competitiveness in evolving markets.

AlphaPoint said it offers a comprehensive set of white label software tools, including exchange technology, liquidity solutions, custody and yield.

The New York-headquartered firm said these tools have been used to deliver innovative financial products and services by more than 150 clients, including exchange operators, brokerages, OTC desks, liquidity providers and market makers, and security token exchanges.

Igor Telyatnikov, AlphaPoint CEO and co-founder, said: "Bermuda and the BMA have provided strong and clear guidelines for digital asset businesses that have attracted many global players to operate under their framework, and AlphaPoint is proud to be the first white label exchange software provider of institutional grade marketplace infrastructure to join the BMA Innovation Hub.

“As an institutional-focused software firm, we are motivated by the collaborative efforts of the Bermuda government to enable a streamlined approach to launching new digital asset businesses with appropriate controls driven by our technology.”

David Burt, the premier, said: “By expanding upon the services available to participants in this initiative, AlphaPoint is showcasing one of many ways by which Bermuda, as a jurisdiction, is progressing towards the integration of digital asset business activities into traditional financial infrastructure."

The company and its award-winning blockchain technology has helped start-ups and institutions discover and execute their blockchain strategies since 2013.