Providing institutional clients with custody services for crypto and digital assets
LONDON and SAN FRANCISCO, June 30, 2022 /PRNewswire/ -- Bosonic, a decentralised Financial Market Infrastructure (dFMI) business, and Bitpanda, one of the fastest growing fintechs in Europe, today announced that FCA-regulated Bitpanda Custody has joined the Bosonic Network™ to meet the growing demands for institutional clients' need for a UK-based digital asset custodian.
Bitpanda Custody (formerly known as Trustology) will also join the 'Bosonic Cross Custodian Net Settlement Working Group' as Bosonic prepares to launch the service later this year. This will be an industry first, and set a new standard for payment versus payment (PvP) atomic swap settlement and netting across an institutionally aligned and global network of independent custodians, eliminating counterparty credit and settlement risk between these institutional players.
Rosario Ingargiola, Bosonic CEO said, "With the growth of the institutional digital assets market, specifically from the family office/wealth, buy-side world, there is significant demand for separate custody provided by regulated or qualified custodians. The need to protect clients' data and assets is paramount and fundamental to the fiduciary responsibility of these clients. We are delighted to have Bitpanda Custody join the Bosonic Network™ and look forward to helping them service their institutional clients."
Alex Batlin, Bitpanda Custody Managing Director, adds: "Bitpanda Custody is pleased to join the Bosonic working group to help institutional clients reduce end-of-day settlement risk and costs, whilst improving capital efficiency, all backed by an insured, regulated crypto custodian."
The Realization Group on behalf of Bosonic
Tel +44 7974937970
Founded in 2016, Bosonic is a leading decentralised financial market infrastructure "dFMI" company with offices in San Francisco, New York, and London, providing best-in-class infrastructure that eliminates counterparty credit and settlement risk in Digital Asset markets. The Bosonic Network™ provides institutional clients with a patented solution that is liquidity and custodian agnostic, enables tokenisation of assets and collateral, provides liquidity aggregation and DMA to the best Exchanges and Market-Makers, and at the core, runs real-time payment vs payment (PvP) atomic execution and settlement, with cross-margining, cross-custodian net settlement, and payments. Bosonic Enterprise Solutions is a full front-to-back white-label SaaS deployment of the same technology for use in other regulated FMI, Bank or Broker digital asset platforms. The Bosonic Network™ and Bosonic Enterprise Solutions delivers best-in-class blockchain infrastructure that's shaping the future of Digital Asset markets by eliminating risk and maximising capital efficiency.
ABOUT BITPANDA CUSTODY
Bitpanda Custody is an insured and FCA-registered cryptoasset custodian wallet provider based in the UK. Its goal is to make it safer, faster and easier for institutions and individuals to safeguard and administer cryptoassets across blockchains and DeFi protocols. Bitpanda Custody, formerly Trustology, was acquired in February 2022 by European crypto unicorn Bitpanda in a multi-million dollar deal. Bitpanda itself was founded in 2014 in Vienna, Austria by Eric Demuth, Paul Klanschek and Christian Trummer. Bitpanda removes the barriers to investing by harnessing the innovative power of digitised assets and blockchain technology. With more than 700+ team members and over 3 million users, the company is one of Europe's fastest growing fintechs. The user-friendly, trade-everything platform empowers both first-time investors and seasoned experts to invest in the stocks, cryptocurrencies and precious metals they want – with any amount of money.