Having recently closed our acquisition, please join me in welcoming Magic Carpet to Blockchain.com. The Magic Carpet team brings extensive machine learning and AI expertise to our growing Institutional business.
Founded in 2017, the company was the brainchild of Jean David Wurtz, Guillaume Pernelle, Daniel Baeriswyl and George Marangos-Gilks, who aimed to use deep machine learning for financial portfolio optimization and ultimately outperform the market.
Magic Carpet’s eight London-based quant traders and data scientists have developed a set of proprietary algorithms to trade crypto at scale. With extensive experience across deep and reinforcement learning, the team has excelled at optimising portfolio data for novel pattern discovery.
Magic Carpet brings its algorithmic trading strategies to the institutional trading team, where the technology will be used for our internal principal trading book. The Magic Carpet team is already hard at work on the institutional side of the business working towards our mission of making crypto trading easier to use for people around the world.
I’m incredibly proud of the team for the strategic M&A activity to date. Back in 2013, we embarked on our first acquisition. Fast-forward to today, and we’ve acquired seven companies, welcomed over 125 highly talented colleagues, and bolstered our technology and capabilities. As we look toward 2022, we hope to bring more talented teams on board to accelerate the adoption of the financial system for the internet.