Firms Launch OTC Crypto Trading with Finery Markets ECN
Posted by Colin Lambert. Last updated: November 9, 2023
Crypto payments and storage platform Digital Asset Management (Damex) has deployed Finery Markets’ FM Liquidity Match ECN within its trading stack to enable OTC trading for its clients.In a separate development, Transfero, an international financial solutions company and the owner of Brazilian and Argentinian digital tokens (BRZ and ARZ), stablecoins pegged to Brazilian Real and Argentinian Peso, has also deployed FM Liquidity Match.
Trading will be available 24/7, the firm says, providing access to multiple liquidity providers and works with Damex Direct, its solution for the management of digital and fiat assets through dedicated IBANs, instant settlements, and multi-user access. To prioritise security, the firm says its custody solution incorporates advanced technologies such as multi-party computation, bespoke cold-storage, and optional insurance solutions.
“This decision reflects the increasing demand across various institutions to streamline their crypto operations and improve overall performance,” says Konstantin Shulga, CEO and co-founder of Finery Markets. “With FM Liquidity Match, Damex will revolutionise its crypto trading processes throughout the whole cycle, from pre-trade risk management to flexible settlements and compliant reporting.”
Samuel Rondot, managing director for business at Damex adds, “Damex aims to bridge the gap between cryptocurrency and traditional financial markets, empowering businesses to leverage blockchain technology in their everyday financial transactions. We strive to provide a seamless on-ramp/off-ramp experience for our clients, so we are constantly exploring innovative solutions to improve the quality, affordability, and efficiency of our product offerings. As a regulated entity in the industry, we have been searching for the ideal partner to provide a comprehensive solution for businesses actively managing their crypto assets. With FM Liquidity Match, we can now offer a convenient option for clients who want to engage in active trading alongside our bespoke on and off-ramp services.”
Meanwhile, Carlos Russo at Transfero, says, “Transfero is one of the largest fiat ramps in Brazil and Argentina and has a clear mission in mind – to bridge the gap between cryptocurrency and traditional financial markets. We aim to empower clients to incorporate blockchain technology into their everyday financial transactions and ensure a seamless and hassle-free experience. As we constantly sought out new ways to improve the quality and effectiveness of our services, we deployed the technology of FM Liquidity Match to automate trading processes, lower operational expenses, and mitigate risks associated with counterparties.”