07 Oct Digivault ExchangeConnect Now available on Bitfinex
ROAD TOWN, British Virgin Islands, October 7 2022 11:00 AM UTC – Bitfinex, a state-of-the-art digital token trading platform, has integrated Digivault ExchangeConnect, a new service that enables clients to trade while holding their assets within Digivault, a UK regulated custodian that is part of EQONEX Group.
Digivault ExchangeConnect, the latest offering from Financial Conduct Authority (FCA) registered Digivault, aims to help address the key issues institutional customers face when entering the digital token economy. These include security and counterparty exposure created from needing to leave assets on the exchanges; capital inefficiencies with assets allocated across multiple exchanges; and the cost and time inefficiency in capital rebalancing efforts.
Digivault ExchangeConnect aims to solve these issues by enabling customers to allocate and lock-up amounts of their custodied digital tokens for trading on a specified exchange. Digivault customers’ locked-up assets will be mirrored as available trading balances on Bitfinex in real-time while never leaving the safety of Digivault.
When using ExchangeConnect, Digivault clients can trade as normal using their Bitfinex trading account. Settlement occurs at the end of the day or intraday upon request. Digivault clients can unlock their assets from Bitfinex and withdraw them from Digivault.
“Custody and credit risk represent the key foundational requirements for institutional customers seeking exposure to Bitcoin and the emerging digital token economy,” said Paolo Ardoino, CTO at Bitfinex. “Digivault’s ExchangeConnect represents a comprehensive custody solution for institutional customers entering the space.”
“We built Digivault because we had a deep understanding of the unique security requirements needed for digital assets, as well as the stringent standards of institutional internal risk committees,” said Rob Cooper, CEO at Digivault. “Digivault ExchangeConnect is an important innovation for global investors and sophisticated traders who are looking to safeguard their assets without sacrificing efficiency when trading on exchanges.”
*All users of www.bitfinex.com are subject to Bitfinex’s terms of service (“TOS”). Please note that U.S. persons (as defined in the TOS), among other prohibited persons (as defined in the TOS), are strictly prohibited from directly or indirectly holding, owning or operating an Account (as defined in the TOS) on www.bitfinex.com.
Founded in 2012, Bitfinex is a digital token trading platform offering state-of-the-art services for traders and global liquidity providers. In addition to a suite of advanced trading features and charting tools, Bitfinex provides access to peer-to-peer financing, an OTC market and margin trading for a wide selection of digital tokens. Bitfinex’s strategy focuses on providing unparalleled support, tools, and innovation for experienced traders and liquidity providers around the world. Visit www.bitfinex.com to learn more.
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