Trustology, a crypto custody solutions provider, announced today that it has formed a partnership with the US-based technology firm, Bosonic along with the FCA-regulated broker, GCEX to remove the counterparty settlement risks associated with crypto trading.
According to the official announcement, the partnership aims to facilitate institutional traders through an efficient and secure settlement process. Trustology outlined the challenges and inefficiencies in the current settlement and trading system.
“Institutions are suffering from issues in trading and settlement process because traded assets leave their control and move through the workflow of dealers, exchanges and brokers, institutional traders face balance sheet limitations leading to slow, multi-leg bilateral transactions, siloed collateral, counterparty credit risk, and general capital inefficiencies,” Trustology mentioned in the official press release.
The new collaboration will enable Trustology to use Bosonic’s counterparty credit and settlement risk management infrastructure to tokenize escrowed funds. The institutional-level regulated trading platform of GCEX will eliminate transparency issues associated with the crypto market. GCEX is a non-custodial trading platform offering institutions access to the growing digital asset market.
Efficient Settlement
Trustology aims to provide a highly secure settlement infrastructure to mitigate risks associated with institutional-grade crypto trading.
“As an insured custodian wallet provider, we provide a super-fast, highly secure, customizable, and programmable platform for institutions. Now in conjunction with GCEX and Bosonic, we can ensure facilitating efficient settlement and improving risk mitigation in one network,” Alex Batlin, Founder and CEO of Trustology, mentioned in the official press release.
GCEX is planning to facilitate institutions with deep liquidity to help them access the growing crypto market. “GCEX sources the deepest liquidity for its clients all over the world, allowing our clients to access crypto in a compliant and institutional manner. Counterparty and custody risks rank some of the most common concerns of our clients. We hope by adding ourselves to the network, along with our partners, allows institutions to access this newly developing market,” Lars Holst, CEO of GCEX said.