Bitfinex Launches Crypto Custody Service with Koine Partnership

Bitfinex has partnered with Koine to offer “institutional grade” digital asset custody services to its customers, the crypto Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term 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 Cryptocurrency Exchange A cryptocurrency exchange is an online platform that supports the exchange of various currencies for a cryptocurrency or digital asset.Comparable to a generalized financial exchange, a crypto exchange’s core function is to permit and encourage the buying and selling of cryptos.This is accomplished by producing a stable trading environment suitable for traders nested through different locations around the world. Sometimes a crypto exchange may be referred to as a digital currency exchange (DCE) f A cryptocurrency exchange is an online platform that supports the exchange of various currencies for a cryptocurrency or digital asset.Comparable to a generalized financial exchange, a crypto exchange’s core function is to permit and encourage the buying and selling of cryptos.This is accomplished by producing a stable trading environment suitable for traders nested through different locations around the world. Sometimes a crypto exchange may be referred to as a digital currency exchange (DCE) f Read this Term.

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.”