Etana Custody and Spotex Sign a Partnership to Execute Crypto Trades

Spotex Digital, a global ECN provider, and Etana Custody, a digital asset custodian, announced a partnership to create physical trading and secure custodial services for institutional investors on Wednesday.

Etana Custody and two of its clients have executed the first fully funded and physically settled cryptocurrency trades. Clients are provided with custody and trade support solutions by Etana for both fiat currencies and cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term. Etana acts as an independent, regulated custodian, allowing institutions to buy and sell fiat and digital assets directly from custody.

“Partnering with Spotex’s established ECN and existing Institutional client base has enabled Etana Custody to broaden its Institutional client reach. As Institutional adoption of digital assets continues to grow, having a reliable partner in Spotex that provides Institutional grade pre and post-trade execution services is vital to our growth in this sector,” Brandon Russell, the CEO of Etana Custody, commented.

Moreover, John Miesner, the CEO of Spotex LLC, pointed out the following: “We are excited to have entered the digital space with an accredited, regulated custodian like Etana Custody. Whether digital or fiat, Institutional clients have expressed significant concern regarding the safety of their assets. Etana fulfills those needs for financial institutions entering the digital marketplace, from the custody of assets to buying power to physical settlement.”

Who Is Spotex?

With Spotex, institutions can trade in either a low latency ECN central limit order book (CLOB) or their own disclosed DMA liquidity pools with preferred liquidity providers. Spotex provides electronic foreign exchange execution, liquidity solutions and digital technology to participants in global foreign exchange and digital markets.

Several of the world’s leading banks, hedge funds, proprietary trading firms, broker-dealers, prime brokers and digital custodians participate in the Spotex ECN.

Since 2019, Kraken, a major US crypto exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term, has had a partnership with Etana Custody to enable deposits and withdrawals of multiple fiats on its platform. The clients of the exchange can deposit US dollar, euro, Canadian dollar, British pound and Japanese yen using Etana Custody.