DeFinity Markets Adds Custodiex
Posted by Colin Lambert. Last updated: September 23, 2022
Digital assets ECN DeFinity Markets has taken what it hopes is the first step towards its ambition of creating a custody-agnostic digital assets ecosystem by integrating cold storage provider Custodiex into its tech stack. The firm has also partnered with middleware provider Crculus.
Custodiex says it provides cold storage, with unlimited scalability, and supports real-time digital asset management technologies for financial institutions. With hardware housed in multiple bunkers at undisclosed locations and with key ceremonies and processes designed to guard against even the most aggressive physical and cyber-attacks.
Crculus was created, the firm says, to address the structural imperfections of the institutional digital asset custody market and uses technology to create accessible, scalable and harmonious digital asset ecosystems. The Crculus tech stack sits in between the application and operating layer and is a key piece of middleware infrastructure to enable interoperability between multiple custodians.
“Custodiex is one of the most technologically advanced cold storage digital asset vault solutions in the world and we are delighted to be working with the DeFinity team who have been pushing the envelope of radical innovation within the digital asset sector for several years,” says Kam Patel, interim CEO and COO at Custodiex.
Meanwhile, Manu Choudhary, co-founder of DeFinity, says, “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. I have always been a huge fan performance enhancing technology and we believe that collectively we will be setting new standards within electronic trading for digital assets.”
Michael Siwek, DeFinity co-founder, adds, “Custodiex provide 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.”
On the Crculus partnership, Thomas Soede co-founder of Crculus, says, “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. We believe our enterprise grade solution fulfils financial, regulatory, and operational requirements for institutions looking to enter the market.”