Finery Markets, a leading liquidity and institutional crypto trading infrastructure provider, is proud to announce its participation in ClearToken’s proof of concept (PoC) project.
ClearToken, an ambitious initiative to establish a global clearing house for the digital asset age, collaborated with over 60 industry stakeholders from digital assets and traditional finance to demonstrate the viability of centralized clearing for cryptocurrencies sourced from multiple platforms.
As a first-of-its-kind crypto-native ECN and trading technology provider, Finery Markets plays a crucial role in showcasing the core market infrastructure principles that bring value and stability to digital assets.
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The PoC aimed to address the primary issues inhibiting the development of digital asset markets, such as clearing and settlement, pre-funding and counterparty credit risks.
By participating in ClearToken’s PoC, Finery Markets validated the importance of clearing and settlement services in reducing systemic and counterparty risks for market participants with complex exposures across various venues and instrument types.
Finery Markets is thrilled to contribute its expertise and cutting-edge technology to ClearToken’s mission of building a fully regulated, CCP-cleared trading lifecycle for digital assets.
“We are excited to be part of ClearToken’s proof of concept and demonstrate the immense potential of centralized clearing in the digital asset space” said Konstantin Shulga, CEO and co-founder at Finery Markets.
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“By partnering with industry-leading players, we believe that we can overcome the existing barriers and pave the way for the future of digital asset markets. Finery Markets remains committed to working closely with ClearToken and other market stakeholders to establish a robust and globally recognized clearing house for digital assets.”
Benjamin Santos-Stephens, CEO of ClearToken added: “We are addressing the primary clearing and settlement obstacles hindering the growth of digital asset markets. By collaborating with leading infrastructure providers such as Finery Markets and leveraging the UK’s firm legal framework, we are striving to create a clearing solution with round-the-clock support for trading and settlement.”
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