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CEO CHAT: Charles Hayter, CryptoCompare

Traders Magazine Online News, January 24, 2019

John D'Antona Jr.

Last year was a tumultuous year for cryptocurrencies. Crypto values tumbled, ICOs fell out of popularity, institutional traders considered dipping their toes into the market, while regulators sat up and took notice. What can we expect from 2019? More of the same, or will new developments shape the industry in a totally different direction?

One firm who keeps a close eye on cryptocurrency markets is CryptoCompare. By providing retail and institutional investors with real-time, high-quality and reliable market and pricing data on 5,700+ coins and 260,000+ currency pairs, CryptoCompare is the global cryptocurrency market data aggregator bridging the gap between the crypto and institutional markets.

John D’Antona recently sat down with CryptoCompare’s Founder and CEO Charles Hayter to discuss his firm’s core offering and mission, as well as his outlook on upcoming trends in the crypto markets for 2019.

Traders Magazine: Tell us about CryptoCompare? What does it provide?

Charles Hayter: CryptoCompare provides a comprehensive overview of the crypto asset market for institutional investors in the form of cryptocurrency trade data, order book data, blockchain and social data, monthly exchange reviews, taxonomy reports and a suite of cryptocurrency indices. We have collaborations in place with Thomson Reuters, providing data on 50 crypto currency pairs to their Eikon platform, and Van Eck / MVIS for their partnership with Nasdaq to provide data for a series of digital asset futures contracts.

TM: What makes CryptoCompare different? 

Hayter: We ensure that CryptoCompare adheres to the most rigorous standards in order to safeguard data integrity, normalising global data sources to ensure consistency and confidence in the market. We have set out to act as gatekeeper for reliable, accurate and clean data that can be trusted as the basis for investment decisions.

TM: What do you foresee as some of the main trends in 2019 for the crypto industry?

Hayter: We believe there are three key themes of industry movements to look out for in the year ahead: stablecoins; security token offerings; and regulation. The prospect of a global digital bearer certificate with its efficiencies is a natural technological evolution of how we record and transfer value. How we combine it with identity is the social contract between the individual and the state. This will ultimately lead to global convergence as people vote with their digital feet.

TM: What are stablecoins?

Hayter: Stablecoins are cryptocurrencies pegged to the value of an underlying asset, thereby avoiding price volatility to make them more palatable for everyday use. This is evidenced by the fact that values for stablecoins have remained strong despite recent crashes in cryptocurrency markets with USDC, TUSD, GUSD and PAX seeing an increase of 1,032% in on-chain transactions in November when compared with September according to Diar. Even Facebook is rumoured to be developing a stablecoin for its WhatsApp messaging service to compete with Weibo. Ultimately M1 money supply is becoming globally “mobile” which poses a number of questions with respect to privacy, security and the influence of a Nation State beyond its territorial limits.

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