FalconX Launches New Prime Brokerage Service for Institutional Investors to Trade on Exchanges
Cryptocurrency trading firm FalconX has unveiled a new prime brokerage service designed to facilitate institutional investors’ trading activities on exchanges while their funds remain securely held in regulated, bankruptcy-remote custody.
The service, known as Prime Connect, offers a range of features including post-trade settlement, institutional-grade credit, and portfolio margining.
In a recent press release , FalconX announced that Deribit, the world’s leading cryptocurrency options exchange, is the first platform to integrate FalconX’s prime broking and custody solution.
The launch of Prime Connect comes as the cryptocurrency industry reevaluates the importance of safeguarding client assets in custodial setups that are entirely separate from those of exchanges, brokers, and trading firms.
The collapse of FTX, a notable event in the industry, has heightened awareness of the need for robust security measures and strict segregation of assets.
Vivek Chauhan, the product manager at FalconX, expressed enthusiasm about the launch of Prime Connect and the partnership with Deribit.
“We are pleased to launch Prime Connect with Deribit and look forward to providing our full suite of prime services which allow institutions to confidently scale their digital assets portfolios while trading on exchanges .”
Hyperithm , alongside other trading firms , has already begun utilizing Prime Connect to facilitate trading activities on Deribit.
FalconX has plans to integrate its services with additional exchanges in the coming months, expanding the availability and reach of their prime brokerage solutions and reaching more investors.
“We are thrilled to be the first exchange that FalconX is partnering with to launch
Read more on cryptonews.com
