DeFinity Market, which offers an institutional digital asset ECN and DeFi marketplace, announced on Friday the strengthening of its execution 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 . 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.”
