Etana Custody and Spotex Digital have established a collaboration to provide physical trading and safe custody services to institutional clients
Etana Custody & Spotex Crypto Trades
Spotex Digital, a worldwide supplier of ECN services, and Etana Custody, a company that acts as a custodian for digital assets, have announced that they would work together to develop physical trading and secure custody assistance for institutional investors. Both parties successfully completed the first Bitcoin deals that were completely financed and physically settled. Etana enables direct transactions between institutions for the purchase and sale of fiat currency and digital assets.
Etana Custody and couple of its customers have successfully completed the first Bitcoin deals that were both fully financed and physically settled. Etana offers its customers options for custody and trading assistance for both traditional currencies and cryptocurrencies. Etana is an independent and regulated custodian that enables institutions to purchase and sell fiat currency as well as digital assets straight from custody.
In light of this revelation, Custody and Spotex LLC have stated that they plan to expand their relationship in order to provide further chances and creative solutions for customers who are looking for a simpler and more secure experience within the digital asset class.
Institutions are able to trade in a low-latency electronic communication network central limit trade volume (CLOB) or in their own declared direct market access (DMA) liquidity pools with selected liquidity providers thanks to Spotex. Spotex has connections to the industry’s most prominent buy-side and sell-side liquidity providers. Participants in international foreign exchange and digital markets can take use of electronic execution in foreign exchange, liquidity options, and digital technologies made available by Spotex. The Spotex Electronic Communication Network is backed by some of the most prominent financial institutions in the world, including banks, investment firms, proprietary trading businesses, broker-dealers, prime dealers, and digital custodians.
Etana Custody Ltd. is a trust corporation that was chartered in the state of Colorado and is governed by the banking division of the state of Colorado. As an independent and accredited custodian, Etana provides global storage and trade support service to financial institutions, enterprises, exchanges, and individual customers alike. The industry-leading storage and trade support solutions provided by Custody enable clients to manage both fiat and digital assets out of a single place inside a safe environment that is linked to a variety of service provider alternatives.
Quotes
Brandon Russell, the CEO of Etana Custody, said: “Partnering with Spotex’s established ECN and existing Institutional client base has enabled Etana Custody to broaden its Institutional client reach. As Institutional adoption of digital assets continues to grow, having a reliable partner in Spotex that provides Institutional grade pre and post-trade execution services is vital to our growth in this sector.”
John Miesner, the CEO of Spotex LLC, added: “We are excited to have entered the digital space with an accredited, regulated custodian like Custody. Whether digital or fiat, Institutional clients have expressed significant concern regarding the safety of their assets. Etana fulfills those needs for financial institutions entering the digital marketplace, from the custody of assets to buying power to physical settlement.”
