The Deutsche Börse Group subsidiary Crypto Finance has launched a new over-the-counter settlement solution aimed at enhancing capital efficiency and trading flexibility for institutional crypto investors.
According to a Tuesday announcement, the new product Crypto Finance AnchorNote allows institutions to trade across different platforms without needing to move assets out of custody accounts. At the same time, the product supports institutions in completing trade settlements over-the-counter and earning returns in a compliant and risk-controlled environment.
Philipp Dettwiler, Head of Custody and Settlement at Crypto Finance, stated that with Crypto Finance AnchorNote, we bridge the important gap between custody and capital efficiency. The first phase of the product focuses on the Swiss market, with plans to expand to a broader European region in the future.
The system integration middleware BridgePort is used to coordinate the flow of information between exchanges and custodians. Dettwiler added that in collaboration with BridgePort, we provide institutional clients with an integrated solution that enables them to conduct business securely, flexibly, and in real-time.
According to Crypto Finance, AnchorNote simplifies the rapid transfer process of collateral between platforms. Institutions can access the service through a convenient interface or directly via API.
Nirup Ramalingam, CEO of BridgePort, stated that this infrastructure lays the foundation for scalability in asset liquidity for institutional traders.
Crypto Finance is a provider of digital asset custody, trading, and investment product services. In February of last year, its German subsidiary received four licenses from the Federal Financial Supervisory Authority (BaFin) in Germany. Additionally, the platform is regulated by the Swiss Financial Market Supervisory Authority (FINMA).
Deutsche Börse acquired a majority stake in the Switzerland-based Crypto Finance Group in 2021. Crypto Finance has launched related products on the Swiss SIX exchange and issued Switzerland's first crypto asset investment fund.
According to Cointelegraph, a request for comment has been made to Crypto Finance, but no response has been received as of the time of publication.
In July, Coinbase International Exchange joined Copper's ClearLoop network to provide over-the-counter settlement services for institutional clients to meet the demand for higher trading efficiency. This integration supports near real-time trade settlements without needing to transfer assets to the exchange.
In March, Sygnum also partnered with the crypto derivatives exchange Deribit to provide over-the-counter custody services for institutional traders through the Sygnum Protect platform.
Related: Tom Lee: Bitcoin (BTC) and Ethereum (ETH) may see "huge surges" in the next three months.
Original article: “Deutsche Börse subsidiary launches institutional over-the-counter settlement service”
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