BitPanda Custody Joins Bosonic Network
Posted by Colin Lambert. Last updated: July 1, 2022
Bitpanda Custody has joined the Bosonic Network to meet, the firms say, institution clients’ need for a UK-based digital asset custodian.
The Bitpanda Custody business, formerly known as Trustology, will also join the recently-announced Bosonic Cross Custodian Net Settlement Working Group ahead of the planned launch of the service later in 2022, that Bosonic says will be “an industry first, and set a new standard for payment versus payment (PvP) atomic swap settlement and netting across an institutionally aligned and global network of independent custodians, eliminating counterparty credit and settlement risk between these institutional players”.
Rosario Ingargiola, Bosonic CEO, says, “With the growth of the institutional digital assets market, specifically from the family office/wealth, buy-side world, there is significant demand for separate custody provided by regulated or qualified custodians. The need to protect clients’ data and assets is paramount and fundamental to the fiduciary responsibility of these clients.”
Alex Batlin, Bitpanda Custody managing director, adds, “Bitpanda Custody is
pleased to join the Bosonic working group to help institutional clients reduce end-of-day settlement risk and costs, whilst improving capital efficiency, all backed by an
insured, regulated crypto custodian.”