Ian Allison is an award-winning senior reporter at CoinDesk. He holds ETH.
Cryptocurrency trading firm FalconX has introduced a new prime brokerage service to allow institutions to trade on exchanges while their funds remain in regulated, bankruptcy-remote custody.
FalconX’s Prime Connect, unveiled on Tuesday, also includes post-trade settlement, institutional-grade credit, and portfolio margining, the company said in a press release shared with CoinDesk. Deribit, the world's leading crypto options exchange, is the first to integrate FalconX's prime broking and custody solution.
In the wake of FTX's collapse, the cryptocurrency industry has realized the need to keep client assets in custodial setups that are completely segregated from those of exchanges, brokers, and trading firms. “We are pleased to launch Prime Connect with Deribit and look forward to providing our full suite of prime services which allow institutions to confidently scale their digital assets portfolios while trading on exchanges,” Vivek Chauhan, product manager at FalconX said in a statement.
A group of trading firms, such as Hyperithm, are using Prime Connect to trade on Deribit. , FalconX said the services will be integrated with other exchanges in the coming months.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ethereum Falls to 3-Year Low Against Bitcoin: Bear Trap? Peter Brandt AnswersVeteran trader Peter Brandt unveils scary Ethereum vs. Bitcoin outlook
Read more »
This Trader Reportedly Lost $800k in Crypto Through Malicious Chrome ExtensionsCrypto Blog
Read more »
Crypto Trader Avi Eisenberg's Fraud Trial BeginsThe criminal fraud and manipulation trial of crypto trader Avi Eisenberg is set to begin, as a 15-person jury has been seated. The trial will determine whether Eisenberg broke the law with a trading strategy that caused significant damage to Mango Markets, a popular cryptocurrency betting venue on the Solana blockchain. This trial highlights the government's efforts to regulate decentralized finance (DeFi) in the crypto trading space.
Read more »
Crypto trader Cobie launches beta version of angel investor platform EchoWell-known crypto trader Jordan Fish, also known as Cobie, has started beta testing Echo, his newly created crypto angel investor platform.
Read more »
Galaxy Digital-Owned Crypto Custody Specialist GK8 Unveils Tokenization WizardIan Allison is an award-winning senior reporter at CoinDesk. He holds ETH.
Read more »
1inch unveils crypto debit card in partnership with MasterCard and BaanxDecentralized finance (DeFi) firm 1inch Network has debuted a new debit card with cryptocurrency to fiat currency bridge functionality in partnership with Mastercard and Baanx.
Read more »