PARSIQ, a blockchain monitoring and workflow automation platform that offers tools for analyzing, detecting, and preventing cryptocurrency-related fraud, states it wants to become the “Zapier for blockchain.” As stated in a release, PARSIQ works on a “multi-level” bridge between various blockchains and various off-chain applications. PARSIQ’s characteristics have been intended to automate the blockchain analytics and monitoring process. The company’s tools can offer “customizable” workflows with “real-time intelligence.”

As noted in the announcement, “PARSIQ has integrated with Bitsgap to set a new standard for automated trade order executions based on real-time on-chain data.” Retail and institutional traders will be capable of automating trade order executions over various digital asset exchanges. The automatic trades will be “triggered by real-time on-chain insights.” PARSIQ will enable users to set parameters for different on-chain events that will automatically execute trade orders by Bitsgap’s terminal. The company claims that these characteristics found a “new standard” for digital asset trading workflows.

PARSIQ’s clients involve over the counter trading desks, crypto-asset exchanges, and individual digital currency traders. These consumers will now have the alternative to combine both platforms through PARSIQ’s web portal to get better analytics for more informed decision-making. The information may be automatically fed into Bitsgap’s trading bots.

Tom Tirman, the co-founder at PARSIQ, said in a statement, “Being able to monitor on-chain transactions is an important method for staying ahead of the market, and also be the first to know, for example, that a whale has moved a substantial amount of a digital asset to an exchange. Now, our users can not only easily monitor transactions and be notified in real-time, but also create predefined workflows to automatically execute a sell or buy order when certain transactions occur on the blockchain.”

Max Kalmykov, CEO at Bitsgap, said in a statement, “As cryptocurrency trading becomes more accessible, the need for advanced analytical tools is growing too. But the market lacks sophisticated solutions to leverage on-chain transaction data for better decision-making. The combination of Bitsgap’s set of full-suite features with PARSIQ’s ability to monitor and react to blockchain transactions before they have been committed to the next block [aims to] address this problem.”