Cobalt, one of the prominent providers of FX and Digital Asset risk & settlement infrastructure, and Puremarkets Ltd, trading under Pure Digital, recently joined hands to bring efficient credit and post-trade solutions to the market.
Lauren Kiley, the CEO of Pure Digital, believes that the mentioned solutions will address the missing parts in the current market. The details shared by Pure Digital indicate that the solution from Cobalt eliminates the risk of limit breaches and the need for trades to be pre-funded.
Institutional customers will be able to trade on the platform through the use of bilateral credit. Pure Digital noted that the trading is expected to start during the second half of 2022.
“Pure Digital is pleased to formalize our cooperation with Cobalt as we share the same vision for the future of wholesale digital currency markets. We look forward to working closely together to deliver the primary venue for digital currency trading,” says Campbell Adams, the Founder of Pure Digital.
Digital Asset Ecosystem
Due to the rising institutional interest in digital assets, the demand for modernized crypto infrastructure has jumped substantially in the past few months. According to Pure Digital, the platform will facilitate participants through the reduction of trading and technology costs.
“Digital Assets have been growing as a lucrative trade opportunity, but market infrastructure must be modernized for better control, market access and a secure settlement process,” says Darren Coote, the CEO of Cobalt. “Through our partnership with Pure Digital, we are focused on enhancing settlement and credit management to deliver a primary venue for participants to trade with minimized risk and cost. Pure Digital’s deep market knowledge and banking network makes them an ideal partner to continue our focus on developing a new standard for institutional-grade infrastructure.”
In December 2021, DeFinity announced a collaboration with Cobalt.
