About Wyden

Wyden empowers banks and brokers to build and maintain retail and institutional digital asset client offerings as well as support internal proprietary trading needs via a single platform that covers the entire end-to-end trading lifecycle of digital assets across all pre-trade, trading, and post-trade requirements.

A key compliance advantage is that the Wyden platform offers true best execution through market-wide connectivity to over 55 trading venues and a smart order routing system that carries out price comparisons and order splitting to achieve the optimal execution terms.

Pre-trade risk and treasury management, coupled with post-trade settlement, reconciliation, and double-entry accounting, allows Wyden’s clients to build and offer retail and institutional products and comply with the requirements of both MiCA and DORA.

Wyden serves as the core of the digital asset trade lifecycle ecosystem.

The Challenge

For its institutional-grade digital asset trade lifecycle infrastructure, Wyden was in search of a dependable market data solution to include more price information for certain currency pairs as well as additional conversion rates for specific calculations.

In particular, Wyden wanted:

• Enhanced access to less common currency pairs
• Complete price data to further improve Wyden's internal calculations and workflows
• Reliable market data to test new features

In crypto markets where timing is critical, addressing these data challenges enables quicker trades, improved strategic choices, and enhanced client satisfaction.

Finding the Right Solution

Wyden was searching for a market data solution to provide complete, accurate, and up-to-date information to help optimize their platform. When looking for such a provider, Wyden knew exactly what they needed:

• Extensive instrument coverage, including rare currency pairs and broader asset classes.
• A dependable, high-performance tool for handling real-time requests without latency issues.
• Both real-time updates through WebSocket and on-demand information through REST API
• Flexibility to scale as their platform grew in scope and complexity.

CoinAPI met Wyden's requirements by delivering precise market data across more than 370 exchanges. Our service provides both real-time and historical information through a dual-interface system of WebSocket and REST APIs that align perfectly with Wyden's specifications.

CoinAPI’s coverage across spot, futures, and options markets provided the depth necessary for sophisticated strategies, while maintaining consistent data quality across all integrated venues.

The Technical Implementation Process

Wyden’s development team built a Java-based connection to CoinAPI with a focus on maximizing the use of CoinAPI's WebSocket API for real-time market data streaming.

The implementation centered on two main areas:

• Real-Time Data: The team set up WebSocket feeds to track price movements for key currency pairs, cutting down latency where it mattered most
• Backup REST Access: When historical data or conversion rates were needed, the team tapped into CoinAPI's REST endpoints

The Impact

Adding CoinAPI's data streams transformed Wyden's development cycle. Real market data helped:

• Spot issues earlier,
• Cut testing time,
• Further boost confidence in new releases.

Time spent validating trade calculations dropped significantly while feature rollouts became more predictable.

"Reliable and comprehensive data delivery is paramount, particularly during high market volatility, while API performance should demonstrate consistently low latency and high uptime with flexibility for both real-time and historical data access. Besides, data providers must ensure to offer well-documented APIs with clear technical guidance to simplify implementation."
Mimoza Selmani, Head Partnerships at Wyden.

Looking Forward

Wyden continues to develop and expand their flagship product, Wyden Infinity, designed to meet the growing institutional demands of banks and brokers. The platform enables full automation of the digital asset trade lifecycle, covering everything from pre- to post-trade.

With CoinAPI’s extensive data coverage and easy integration, Wyden tackled key challenges and further enhanced their client experience. This partnership emphasizes how accurate and dependable market data is essential for institutional-grade trade lifecycle infrastructure solutions. By working together, Wyden and CoinAPI are shaping the future of digital asset trading.

About CoinAPI

CoinAPI offers real-time and historical crypto market data from more than 370 exchanges worldwide (we're constantly expanding, as we're ready to add new platforms based on clients' needs).

Our complete suite features Market Data API, Exchange Rate API, Index APIs, bulk historical data through Flat Files, Execution Management System (EMS) Trading API and Exchange Link service. With our focus on accuracy, reliability, and speed, CoinAPI helps businesses like Wyden create informed strategies and develop effective trading solutions.

About Wyden

Wyden is the global leader in institutional digital asset trading technology. By covering the entire trade lifecycle and supporting seamless custody, core banking and portfolio management system integration as well as full trade lifecycle automation, the Wyden platform streamlines digital assets trading. Engineered by a team of trading system veterans and crypto asset experts, Wyden offers best-in-class integrated infrastructure solutions that meet the highest institutional needs. Headquartered in Zurich, Wyden runs several product hubs in Poland and has offices in Singapore and New York.