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AI Fintech Goes After BGC With First Bitcoin Trade

  • AiX last week brokered first trade in cryptocurrency space
  • Startup seeking approval to work in regulated asset classes
Russia's Largest Bitcoin Mine Turns Water Into Cash
Photographer: Andrey Rudakov/Bloomberg

A fintech startup that aims to make voice brokers obsolete has gone live with its first trade -- in Bitcoin.

London-based AiX last week negotiated its first Bitcoin-U.S. dollar trade using a proprietary artificial intelligence system that communicates with human traders at banks via chat services. The firm, which was founded in 2017 and employs 35 people, is going after voice brokers, such as BGC Partners and TP ICAP Plc., who earn fees from matching buyers and sellers by phone, by replacing them with an AI system.