Finery Markets, a liquidity and institutional crypto trading technology provider, has joined ClearToken’s proof of concept project, an initiative to establish a global clearing house for digital assets.
ClearToken has collaborated with more than 60 industry stakeholders from digital assets and traditional finance to demonstrate the viability of centralised clearing for cryptocurrencies sourced from multiple platforms. The PoC is designed to address the primary issues inhibiting the development of digital asset markets, such as clearing and settlement, pre-funding and counterparty credit risks.
Konstantin Shulga, CEO and co-founder at Finery Marketsl said: “We are excited to be part of ClearToken’s proof of concept and demonstrate the immense potential of centralised clearing in the digital asset space.
“By partnering with industry-leading players, we believe that we can overcome the existing barriers and pave the way for the future of digital asset markets. Finery Markets remains committed to working closely with ClearToken and other market stakeholders to establish a robust and globally recognized clearing house for digital assets.”
Benjamin Santos-Stephens, CEO of ClearToken added: “We are addressing the primary clearing and settlement obstacles hindering the growth of digital asset markets. By collaborating with leading infrastructure providers such as Finery Markets and leveraging the UK’s firm legal framework, we are striving to create a clearing solution with round-the-clock support for trading and settlement.”
© Markets Media Europe 2023
