This collaboration will provide institutional clients with secure, compliant, and transparent fiat settlement solutions, further strengthening Cactus Custody's mission to build a one-stop digital asset service platform.
Cactus Custody, a compliant digital asset custody institution under Matrixport holding a Hong Kong TCSP license, announced today a strategic partnership with Fly Wing Technologies Pte Ltd (referred to as "Fly Wing") to launch its over-the-counter trading service platform, Cactus OTC Desk, aimed at institutional clients. Fly Wing has been granted a large payment institution license by the Monetary Authority of Singapore (MAS) and can provide digital payment token services for over-the-counter trading. This collaboration will offer institutional clients secure, compliant, and transparent fiat settlement solutions, further reinforcing Cactus Custody's mission to create a one-stop digital asset service platform.
Recently, Cactus Custody has integrated the Singapore Gulf Bank (SGB) system, enabling it to provide compliant fiat custody capabilities for institutional users, supporting 24/7 access for deposits and withdrawals. The launch of the OTC Desk will provide institutional users with more options for digital asset/fiat exchanges, marking a further step for Cactus Custody in linking traditional finance with the Web3 space.
Cactus Custody users must complete the Fly Wing platform's electronic identity verification (eKYC) to use this new service. Unlike the operational model of cryptocurrency trading platforms, Fly Wing completes over-the-counter transactions via bank transfers, ensuring a high level of security, compliance, and transparency. Initially, the Cactus OTC Desk will support USDT/USD and USDC/USD trading pairs, with more trading pairs to be added gradually.
Enhancing asset utilization efficiency remains a key factor for institutions entering the Web3 market. Cactus Custody adheres to its original intention, employing industry-leading encryption technology, cold storage, and geographically isolated custody strategies to provide the highest level of protection for user assets. At the same time, the platform actively integrates fiat settlement capabilities through partnerships with compliant institutions to optimize asset utilization efficiency and enhance institutional trust.
Wendy Jiang, General Manager of Cactus Custody, stated: "Cactus Custody has always prioritized user security and is committed to building industry-leading security infrastructure. While ensuring the safety of user assets, we aim to create conditions for institutional users to seamlessly participate in the Web3 market and seize market opportunities in a timely manner. This collaboration is based on this philosophy, and Fly Wing's dedication to security, compliance, and transparency will further enhance institutional user trust and attract more traditional institutions into the Web3 market."
Fly Wing is the first OTC service provider integrated into the Cactus OTC Desk. In the future, the platform will integrate more compliant OTC service providers to offer clients a rich selection to meet their personalized needs.
About Cactus Custody
Cactus Custody is a professional digital asset custody platform under the Matrixport Group with international regulatory qualifications, providing asset custody, DeFi access, over-the-counter settlement, and trading services to over 300 institutions globally, managing assets exceeding $10 billion.
The platform is centered on security, based on compliance, and driven by innovation, employing a layered security architecture with cold and hot storage, integrating institutional-grade encryption technology and cold storage systems, and strictly implementing compliance risk control processes, dedicated to building a globally trusted digital asset custody infrastructure.
Learn more: www.mycactus.com
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