Bitfinex Agrees Memorandum of Understanding to Discover Integration with Komainu Join for New Distant Custody Answer

15 Aug Bitfinex Agrees Memorandum of Understanding to Discover Integration with Komainu Join for New Distant Custody Answer

ROAD TOWN, Tortola, British Virgin Islands – August 15, 2024 – Bitfinex, a state-of-the-art digital asset buying and selling platform, has introduced a collaboration to discover a strategic integration with Komainu Join, a regulated digital asset custodian. The mixing is predicted to permit establishments and complicated traders to leverage Bitfinex’s deep liquidity and superior buying and selling options whereas sustaining the safety of their property in a separate, regulated custody atmosphere. This collaboration is enabled by Ledger Enterprise’s off-exchange buying and selling and settlement expertise, Ledger Tradelink™, which allows institutional clients to commerce by means of the Bitfinex platform.

By working with Bitfinex, the Komainu Join integration is predicted to permit establishments to commerce on one of many world’s most liquid markets for crypto property, whereas conserving their property segregated with a regulated custodian. One of many key advantages establishments will acquire from this integration is the power to get pleasure from uninterrupted buying and selling on Bitfinex with out frequent on-chain asset transfers, in addition to the safety supplied by conserving property in custody with Komainu.

The mixing can be the most recent distant custodian resolution supplied by Bitfinex, and follows comparable preparations it has with different custodian companions, which have each proved in style with institutional clients.

Merchants with property on Komainu Join and a verified account on Bitfinex will be capable to allocate a portion of their custody-held property for buying and selling, initiating a lock at Komainu. Concurrently, Komainu Join will notify Bitfinex by means of an API connection. Upon approval, Bitfinex will grant the dealer a steadiness equal to the locked quantity, enabling seamless buying and selling with the designated property.

“Our collaboration with Komainu Join displays our dedication to increasing safe buying and selling choices for our clients and gives an extra layer of safety for institutional traders by permitting them to leverage Komainu’s regulated custody resolution whereas nonetheless accessing Bitfinex’s sturdy buying and selling atmosphere,” stated Paolo Ardoino, CTO of Bitfinex.

We’re thrilled to welcome Bitfinex to our Komainu Join platform,” stated Paul Frost-Smith, Co-CEO at Komainu. “This collaboration expands our ecosystem of trusted exchanges, additional enhancing liquidity throughout our rising community of buying and selling venues from centralised exchanges, OTC desks, market makers and prime brokers.

“Our collaboration with Komainu and Bitfinex heralds a brand new period for capital markets by means of the launch of a brand new open protocol normal for off-exchange buying and selling. We’ve lengthy believed that establishing a unified normal for off-exchange collateral pledging and settlement amongst custodians, exchanges, and liquidity suppliers is essential for scaling the institutional digital asset market. We’re delighted that Komainu and Bitfinex have chosen to combine Ledger Tradelink expertise, and we look ahead to bringing this groundbreaking resolution to market,” added Sebastien Badault, Govt VP of Enterprise Income at Ledger.

As compliance positive factors rising prominence as laws evolve, cryptocurrency exchanges bear a vital accountability to safeguard buyer property. Bitfinex’s collaboration with Komainu Join highlights the alternate’s proactive strategy to compliance.

To be taught extra about Bitfinex please go to https://www.bitfinex.com/.

About Bitfinex

Based in 2012, Bitfinex is a digital token buying and selling platform providing state-of-the-art providers for merchants and international liquidity suppliers. Along with a set of superior buying and selling options and charting instruments, Bitfinex gives entry to peer-to-peer financing, an OTC market and margin buying and selling for a wide array of digital tokens. Bitfinex’s technique focuses on offering unparalleled assist, instruments, and innovation for skilled merchants and liquidity suppliers world wide. Go to www.bitfinex.com to be taught extra.

Ahead-Trying Statements

Sure statements on this announcement could also be forward-looking in nature. The phrases “imagine,” “anticipate,” “estimate,” “might,” “ought to,” “intend,” “could,” “plan,” “search,” “anticipate,” “mission” and comparable expressions amongst others, typically establish “forward-looking statements,” which converse solely as of the date the statements had been made. The issues mentioned in these forward-looking statements are topic to numerous dangers, developments and uncertainties that might trigger precise outcomes to vary materially from these projected, anticipated or implied within the forward-looking statements. None of Bitfinex nor another individual is answerable for updating or revising any forward-looking statements, whether or not because of new data, future occasions or in any other case, besides as required by regulation.