After joining Chinese crypto exchange KuCoin in February, sans-ICO, Alphacat announced it’s open to the global market. It describes itself as the “world’s first robot adviser marketplace focused on cryptocurrencies.”
Alphacat will also be the world’s first platform providing various AI trading robots for users to offer investment advisory services, according to a whitepaper.
“The goal of Alphacat is to make it easy for the average person to invest just like buying a bottle of Coke and get a good investment performance,” the company said, adding that AI robots can do investment transactions round-the-clock.
The origin of the name of Alphacat, is a combination of ‘alpha’, meaning excess returns, and Computer Aided Trading, and the startup boasts an impressive roster of founders and backers.
That includes some 20 institutional and individual investors, including Node Capital, ChainFunder, Preangel Capital, among others.
Its project team is composed of Wall Street and Google artificial intelligence types, according to company announcements.
Founder Li Bin has over 20 years of experience in the financial industry and quantitative investment in Wall Street. He was a VP at Merrill Lynch, head of quant trading strategies at UBS, as well as chair and CEO of Tradetrek, among other achievements.
In a statement, he said: “The vision of the company is to make quality investment advice more accessible for the average person by simplifying the whole cryptocurrency exchange process through a smart interplay of AI-driven robot advisors and analysis of big data to give a market prediction accuracy of 60% and above”.
The company’s market prediction services extend beyond the Alphacat Token to other coins like ethereum, bitcoin, NEO, EOS, and others.
In the year ahead, Alphacat expects to: continue developing quantitative trading algorithm engines for cryptocurrencies such as bitcoin and NEO; launch the first algorithm engine alpha testing; release a beta version of ACAT Store, a marketplace for trading tools powered by AI and big data by the end of Q2; and release 3+ financial engines into ACAT Store by the end of Q3.