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Bitfinex, a state-of-the-art digital token trading platform, has integrated Digivault ExchangeConnect, a new service that enables clients to trade while holding their assets within Digivault, a UK regulated custodian that is part of EQONEX Group,
Digivault ExchangeConnect, the latest offering from Financial Conduct Authority (FCA) registered Digivault, aims to help address the key issues institutional customers face when entering the digital token economy. These include security and counterparty exposure created from needing to leave assets on the exchanges; capital inefficiencies with assets allocated across multiple exchanges; and the cost and time inefficiency in capital rebalancing efforts.
Digivault ExchangeConnect aims to solve these issues by enabling customers to allocate and lock-up amounts of their custodied digital tokens for trading on a specified exchange. Digivault customers’ locked-up assets will be mirrored as available trading balances on Bitfinex in real-time while never leaving the safety of Digivault.
When using ExchangeConnect, Digivault clients can trade as normal using their Bitfinex trading account. Settlement occurs at the end of the day or intraday upon request. Digivault clients can unlock their assets from Bitfinex and withdraw them from Digivault.
“Custody and credit risk represent the key foundational requirements for institutional customers seeking exposure to Bitcoin and the emerging digital token economy,” said Paolo Ardoino, CTO at Bitfinex. “Digivault’s ExchangeConnect represents a comprehensive custody solution for institutional customers entering the space.”
“We built Digivault because we had a deep understanding of the unique security requirements needed for digital assets, as well as the stringent standards of institutional internal risk committees,” said Rob Cooper, CEO at Digivault. “Digivault ExchangeConnect is an important innovation for global investors and sophisticated traders who are looking to safeguard their assets without sacrificing efficiency when trading on exchanges.”
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