One of the world’s leading crypto derivatives exchanges, BitFinex announced on Wednesday that it has partnered with Koine to offer “institutional-grade” crypto custody services to its customers. With this new offering, crypto exchange BitFinex is luring the institutional investors, assuring them a safe storage facility for their crypto holdings. Paolo Ardoino, CTO at Bitfinex, said that the exchange has always focused on building a service fit for institutional trading. He added that this collaboration with Koine for the delivery of custody post-trade infrastructure, the exchange is taking another step on the path towards massive institutional participation in the crypto-trading market.
Koine specializes in offering custody solutions.
Koine, based in London, is regulated under the Financial Conduct Authority (FCA). The firm specializes in offering custody solutions. Koine provides settlement and segregated custody services for digital assets for both cryptocurrencies and fiat currencies. The announcement detailed that Koine customers who already have an account with the crypto exchange Bitfinex will be able to obtain a line of credit for their trades on the crypto exchange.
Bitfinex continues to expand its services aggressively.
The crypto derivates exchange Bitfinex is aggressively expanding its services around the world. Earlier, the exchange had launched a social networking platform that enables the traders to connect with each other and share information. The crypto derivatives exchange is also offering staking services with multiple, offering up to 10 percent annual interest to its users. Koine is partnering with several crypto industry players to facilitate custodian services. The platform recently announced its partnership with Digital RFQ, which is a London-based digital asset OTC broker.
Hugh Hughes, chairman and CEO at Koine said that collaborating with the crypto exchange to help bring new funds into their trading environment is a crucial step in their evolution. He added that it is leading exchanges like BitFinex that will benefit from the change to a more traditional market structure that will lead to institutional capital participation and the rapid growth of trading from algorithmic funds.
