Digivault ExchangeConnect now available on Bitfinex
LONDON, Oct. 7, 2022
/PRNewswire/ -- FCA-registered crypto custodian Digivault, part of
the EQONEX Group (Nasdaq: EQOS) today launched Digivault
ExchangeConnect, a new service that enables clients to safely hold
their assets within their Digivault FCA-registered custody account
whilst trading with them on an exchange. Digivault ExchangeConnect
is now available on Bitfinex with more exchanges planned.
As an increasing number of institutions and investors add
digital assets to their investment strategies, they continue to
face challenges with trading on exchanges. These include security
and counter-party 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 solves these issues by enabling
customers to allocate and lock-up amounts of their custodied
digital assets for trading on a specified exchange. Their locked-up
assets are mirrored as available trading balances on the exchange
in real-time but never leave the safety of Digivault.
When using ExchangeConnect, clients can trade normally using
their Bitfinex trading account. Digivault is not involved in any
exchange activities such as trading or order routing. Settlement
occurs at the end of the day or intraday upon request.
Clients can unlock their assets from Bitfinex and withdraw them
from Digivault. When additional, alternative exchanges are
available, clients will also have the ability to quickly mirror
their assets onto other exchanges at a low-cost.
Robert Cooper, Digivault CEO
said, "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. 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."
"It's been a great experience working with Bitfinex as our
launch partner to perfect the service before bringing it to
market," said Robert
Cooper.
"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."
Digivault ExchangeConnect Overview
- Digivault customers opt-in to use ExchangeConnect to connect to
Bitfinex or their exchange of choice, when available
- Client allocates an amount of their custodied assets for
lock-up for use when trading on exchange
- Locked-up assets are mirrored in real-time in their exchange
account but do not leave the safety and security of Digivault
- Client can trade directly on exchange. Digivault is not
involved in any exchange activities, such as trading or order
routing.
- Settlement is activated at the end of the day or upon request.
Following settlement, assets held within client's Digivault wallets
match their mirrored trading balance on exchange.
About Digivault
Digivault provides digital asset custody that integrates
physical and virtual security, giving institutions tangible
solutions in a rapidly evolving world. We deliver a powerful
custodian that combines multiple layers of protection, eliminating
the need for trust in a single person or group of people. As part
of a Nasdaq-listed company, we are accountable to the SEC, meaning
increased regulation. However, we eliminate the need for trust
through our processes and technology, providing our clients with
peace of mind.
Digivault is part of the EQONEX Group. EQONEX Limited (NASDAQ:
EQOS) is a technology driven digital assets financial services
group that provides institutional grade infrastructure, custody and
asset management solutions to clients. The Group's digital assets
ecosystem has been designed to accommodate the needs of
institutions and individuals with the same degree of regulatory
oversight and security they are accustomed to in traditional
financial markets.
For more information visit: www.digivault.com. Follow Digivault
on social media on Twitter @DigivaultGlobal, and on
LinkedIn.
Forward-Looking Information
Any forward-looking statements in this press release are based
on available current market material and management's expectations,
beliefs and forecasts concerning future events impacting EQONEX.
You are cautioned that any such forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties, as well as assumptions, which, if they were to ever
materialize or prove incorrect, could cause the results of EQONEX
to differ materially from those expressed or implied by such
forward-looking statements. The forward-looking statements made in
this press release speak only as of the date hereof and we disclaim
any obligation, except as required by law, to provide updates,
revisions or amendments to any forward-looking statements to
reflect changes in our expectations or future events.
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SOURCE Digivault
