Trustology, a digital asset custody solution provider, announced on 22 June, 2020 that it will team up with GCEX, a FCA-regulated OTC broker, to build a secure liquidity network backed by institutional-grade custody for OTC trading of digital assets.
Speedy and secure custody services for digital assets
Trustology, located in London and founded in 2017, is a custodian backed by ConsenSys and Two Sigma Ventures. The custodian offers technical solutions for on-chain and on-exchange asset management. Moreover, Trustology supports compliant and cost-effective solutions across decentralized finance (DeFi) protocols. Trustology’s products provide solutions to the limits of hardware wallets and cold storages, while maintaining speed, flexibility and access.
GCEX and Trustology: OTC digital asset trading and institutional-grade custody
Following CGEX innovation strategy, the partnership aims at improving liquidity on exchanges while also ensuring speedy transactions. In addition, custody will become more secure with Trustology’s private key management and transaction security protocols. These are delivered through the automated infrastructure of Trustology’s TrustVault. The TrustVault API allows to transfer funds through a permitted set of addresses and with it secure settlement processes.
As Alex Batlin, CEO and founder of Trustology, commented on the partnership:
“We’re looking forward to helping GCEX support their institutional investors across the entire spectrum of the crypto industry, be that safekeeping assets, transacting on-chain, on-exchange, facilitating settlement or when using DeFi protocols. Excitingly, this also opens up broker access to DeFi liquidity and loans, where Trustology can help them navigate DeFi lending and staking platforms to maximize their earnings potential and capitalize on profits in their brokerage accounts, often removed due to fear of counterparty risk.”
The custody provider wants to integrate the architecture to function as a settlement agent and assist GCEX as well as other institutional brokers. Trustology will not only serve as a settlement agent but furthermore assist with clearing.
With the upcoming launch of Ethereum 2.0, GCEX wants to give clients the opportunity to benefit from Trustology’s soon-coming support for staking.
The partnership will not only provide liquidity on exchanges but allow speedy transactions and maintain a high-level of custody security. At the same time, the aim is to build an ecosystem of institutions, custodians, and OTC brokers.
For more news on recent partnerships for institutional custody solutions, please visit: https://digital-assets-custody.com/de/bitfinex-partners-with-koine-to-launch-institutional-grade-custody-solution/