DeFinity Enhances Custody Service with Custodiex and Crculus Integration

DeFinity Market, which offers an institutional digital asset ECN and DeFi marketplace, announced on Friday the strengthening of its execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term ecosystem with the integration of Custodiex and Crculus, which are cold storage and infrastructure provider, respectively.

"Our ambition has always been to work collaboratively with innovative technology companies to expedite the evolution of the broader market and this partnership with Custodiex and Crculus certainly helps to achieve that,” said Manu Choudhary, the Co-Founder of DeFinity.

The official press release shared with Finance Magnates defines Custodiex as high-security cold storage Cold Storage Cold storage is a computer system or mode of operation that is designed for the retention of inactive data, in this case private keys for cryptocurrencies. This helps put up resilient barriers against theft by hackers and malware, and is often a necessary security protocol especially dealing with large amounts of Bitcoin.In order to “own” a cryptocurrency, one must be in control of a cryptocurrency’s private keys. As such, private keys are long strings of random characters that can be used to se Cold storage is a computer system or mode of operation that is designed for the retention of inactive data, in this case private keys for cryptocurrencies. This helps put up resilient barriers against theft by hackers and malware, and is often a necessary security protocol especially dealing with large amounts of Bitcoin.In order to “own” a cryptocurrency, one must be in control of a cryptocurrency’s private keys. As such, private keys are long strings of random characters that can be used to se Read this Term. It is scalable and offers real-time digital asset management to institutions.

Furthermore, highlighting the limitations of the widely-used decentralized technologies, Crculus’ Co-Founder, Thomas Soede said: “One of the greatest issues with the Digital Asset market today, is that whilst transactions are executed and cleared in minutes the lack of Institutional infrastructure and interoperability prohibit full Financial Institution adoption.”

Crculus addresses exactly this structural imperfection of the institutional crypto custody market. Its tech stack sits between the application and operational layer and enables interoperability between multiple custodians.

“I have always been a huge fan of performance-enhancing technology, and we believe that collectively we will be setting new standards within electronic trading for digital assets,” Choudhary added.

Crypto ECN

Owned by DMALINK and WeOwn, DeFinity offers trading services to institutional counterparties and records the full lifecycle of transactions on the layer-1 blockchain. In addition, its hybrid architecture allows users to opt out of the permissionless channels and share selected data with other parties and service providers on a permissioned blockchain.

Its priority was to bring transparency to the electronic trading market where prices even vary across venues.

DeFinity first executed a cash-settled FX trade on its infrastructure last January. Earlier, the platform partnered with Cobalt, a prominent market infrastructure provider.

Michael Siwek, the Co-Founder of DeFinity, added: “Custodiex provides the distribution capabilities and durability of the cloud, combined with cold storage within physical bunkers, which we believe will add a phenomenal edge to our execution venue participants from a security and accessibility perspective.”