Bitfinex: a solution for custody in establishments
Bitfinex announced on launch of a new housing solution for investors level institutional in partnership with Koine.
Koine is a company authorized by Financial Conduct Authority (FCA) of the United Kingdom, and its daycare service is specially designed for large institutional investors.
In fact, it offers investors the opportunity to mitigate counterparty, insolvency and credit risks, as well as reduce the need to use private keys for clearing and settlement.
From now on, Koine customers who also have an account on Bitfinex will be able to obtain a line of credit on the trading platform using bitcoin or other cryptocurrencies held on Koine. The service offers an almost real-time solution that avoids manual post-negotiation processes.
Bitfinex aims to establish itself more and more as an exchange crypto which offers high level trading infrastructures for the capital market, with advanced solutions such as algorithmic trading which can considerably increase the efficiency of the capital and trading volumes thanks to cross-location and real-time settlement.
Collaboration with Koine will provide fund managers with custody solution separate from the exchangewhile retaining full ownership during the exchanges.
Koine’s security model is based on Digital AirlocksTM, which replaces the model based on cold storage and hot wallet, and on DvP regulations.
President and Chief Executive Officer of Koine, Hugh hughes, he stated:
“Collaborating with Bitfinex to help introduce new funds into their trading environment is an extremely important step in our evolution. It is exchanges like this that will benefit from the transition to a more traditional market structure, which will quickly lead to the participation of institutional capital and the rapid growth of exchanges with algorithmic funds. “
Bitfinex CTO, Paolo Ardoino, commented:
“We have always focused on creating a service suited to institutional trading. Thanks to this collaboration with Koine for the provision of a post-negotiation conservation infrastructure, we are taking a new step towards a massive institutional participation in the cryptography market. ”
The process of merging crypto markets into the global financial system started a long time ago and is now unstoppable, especially thanks to the growing interest of the main players in global finance for these new assets with still huge potential.
So far, it is probably the absence of adequate infrastructure to guarantee a high level of security to those who have huge capital to invest in these new markets in order to restrict access. However, this limit is about to be exceeded, e It may not be long before traditional finance enters this market en masse.
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