Bitfinex Launches Crypto Custody Service with Koine Partnership

Wednesday, 13/05/2020 | 09:48 GMT by Arnab Shome
  • The crypto exchange is aggressively expanding its offerings.
Bitfinex Launches Crypto Custody Service with Koine Partnership
Bitfinex

Bitfinex has partnered with Koine to offer “institutional grade” digital asset custody services to its customers, the crypto Exchange announced on Wednesday.

With this new offering, the British Virgin Islands-registered exchange is luring the institutional investors, ensuring them a safe storage facility for their holdings.

“We have always focused on building a service fit for institutional trading,” Paolo Ardoino, CTO at Bitfinex, stated. “In this collaboration with Koine for the delivery of custody post-trade infrastructure, we make another step on the path towards massive institutional participation in the crypto-trading market.”

Based in London, Koine is regulated under the Financial Conduct Authority (FCA), the financial market regulator in the UK, and is specialized in offering custody solutions. The platform provides settlement and segregated custody services for digital assets for both digital assets and fiat currencies.

The announcement detailed that Koine customers who already have an account with Bitfinex will be able to obtain a line of credit for their trades on the Cryptocurrency Exchange .

Aggressively expanding services

Though a bit controversial in the industry, Bitfinex is aggressively expanding its services. Last month, the platform launched a social networking platform, enabling the traders to connect with each other.

Bitfinex is also offering staking services with multiple, offering up to 10 percent annual interest to its clients.

Meanwhile, Koine is partnering with multiple crypto industry players to facility custodian services - it recently announced its partnership with Digital RFQ, a London-based digital asset OTC broker.

“Collaborating with Bitfinex to help bring new funds into their trading environment is an extremely important step in our evolution,” Hugh Hughes, chairman and CEO at Koine, added. “It is leading exchanges like these that will benefit from the shift to a more traditional market structure that will quickly lead to institutional capital participation and the rapid growth of trading from algorithmic funds.”

Bitfinex has partnered with Koine to offer “institutional grade” digital asset custody services to its customers, the crypto Exchange announced on Wednesday.

With this new offering, the British Virgin Islands-registered exchange is luring the institutional investors, ensuring them a safe storage facility for their holdings.

“We have always focused on building a service fit for institutional trading,” Paolo Ardoino, CTO at Bitfinex, stated. “In this collaboration with Koine for the delivery of custody post-trade infrastructure, we make another step on the path towards massive institutional participation in the crypto-trading market.”

Based in London, Koine is regulated under the Financial Conduct Authority (FCA), the financial market regulator in the UK, and is specialized in offering custody solutions. The platform provides settlement and segregated custody services for digital assets for both digital assets and fiat currencies.

The announcement detailed that Koine customers who already have an account with Bitfinex will be able to obtain a line of credit for their trades on the Cryptocurrency Exchange .

Aggressively expanding services

Though a bit controversial in the industry, Bitfinex is aggressively expanding its services. Last month, the platform launched a social networking platform, enabling the traders to connect with each other.

Bitfinex is also offering staking services with multiple, offering up to 10 percent annual interest to its clients.

Meanwhile, Koine is partnering with multiple crypto industry players to facility custodian services - it recently announced its partnership with Digital RFQ, a London-based digital asset OTC broker.

“Collaborating with Bitfinex to help bring new funds into their trading environment is an extremely important step in our evolution,” Hugh Hughes, chairman and CEO at Koine, added. “It is leading exchanges like these that will benefit from the shift to a more traditional market structure that will quickly lead to institutional capital participation and the rapid growth of trading from algorithmic funds.”

About the Author: Arnab Shome
Arnab Shome
  • 6420 Articles
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About the Author: Arnab Shome
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
  • 6420 Articles
  • 84 Followers

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