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DeFinity Markets partners with digital asset cold storage provider Custodiex and infrastructure provider Crculus to create an expansive institutional digital asset execution ecosystem.

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DeFinity Markets (powered by DMALINK), the institutional digital asset ECN has taken the first step towards creating the most expansive custody agnostic institutional digital asset ecosystem by integrating Custodiex into its tech stack.

Kam Patel, interim CEO and COO at Custodiex, says: “Custodiex is one of the most technologically advanced cold storage digital asset vault solutions in the world and we are delighted to be working with the DeFinity team who have been pushing the envelope of radical innovation within the digital asset sector for several years.”

Custodiex provides high security cold storage, with unlimited scalability, and support real-time digital asset management technologies for Financial Institutions. With hardware housed in multiple bunkers at undisclosed locations and with key ceremonies and processes designed to guard against even the most aggressive physical and cyber-attacks.

Manu Choudhary, co-founder of DeFinity, added: “Our ambition has always been to work collaboratively with innovative technology companies to expedite the evolution of the broader market and this partnership with Custodiex and Crculus certainly helps to achieve that. I have always been a huge fan performance enhancing technology and we believe that collectively we will be setting new standards within electronic trading for digital assets.”

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Crculus was created to address the structural imperfections of the institutional digital asset custody market and uses cutting edge technology to create accessible, scalable and harmonious digital asset ecosystems. The Crculus Tech Stack sits in between the application and operating layer and is a key piece of middleware infrastructure to enable interoperability between multiple custodians.

Thomas Soede co-founder of Crculus, added: “One of the greatest issues with the Digital Asset market today, is that whilst transactions are executed and cleared in minutes the lack of Institutional infrastructure and interoperability prohibit full Financial Institution adoption. We believe our enterprise grade solution fulfils financial, regulatory, and operational requirements for institutions looking to enter the market.”

Michael Siwek, DeFinity co-founder, added: “Custodiex provide the distribution capabilities and durability of the cloud, combined with cold storage within physical bunkers, which we believe will add a phenomenal edge to our execution venue participants from a security and accessibility perspective.”

Blockchain

Daily Crypto News: BlockchainReporter Empowers Crypto Enthusiasts and Traders with Critical Information to Make Informed Decisions

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Blockchain

Alpha Sigma Capital Research Releases May Report on ASC AI Index

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Blockchain

Blockchain Firm Squad Labs Raises $10 Million for Smart Wallet

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Squad Labs announced that its Series A funding round, led by Electric Capital with participation from RockawayX, Coinbase Ventures, L1D, Placeholder, and Mert Mumtaz, will propel the launch of its Fuse smart wallet. The company aims to establish Fuse as a premier solution for securing and compounding personal digital wealth amid the growing onchain economy.

According to the company’s news release on June 12, smart accounts and smart wallets are gaining traction across blockchains as they offer a more intuitive, secure, and programmable user experience. Fuse abstracts seed phrases and provides features like wallet recovery, 2FA capabilities, and enterprise-level security for personal custody, simplifying the choice of storing digital wealth on-chain.

In addition to securing funding, Squad Labs also announced the public testing launch of Fuse on iOS. This move is part of their strategy to expand accessibility and refine functionality ahead of a full market release.

Meanwhile, a recent report from PYMNTS Intelligence explores blockchain’s role in enhancing cross-border payments. It suggests that integrating blockchain can streamline payment processing, enable digital-to-fiat currency conversion, and introduce stablecoins for faster and cost-effective cross-border transactions. Business-friendly decentralized finance (DeFi) solutions further automate and secure transactions via smart contracts, reducing dependence on traditional payment systems and enhancing security and transparency.

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The report underscores the significance of educating businesses and end-users about the benefits of blockchain-based cross-border payments. It advocates for partnerships with FinTechs and proactive engagement with financial institutions to drive adoption and improve industry-wide support for blockchain technologies in payments.

Overall, Squad Labs’ funding round and Fuse’s development represent strategic advancements in blockchain technology aimed at enhancing digital wealth management and transforming cross-border payment landscapes.

Source: pymnts.com

The post Blockchain Firm Squad Labs Raises $10 Million for Smart Wallet appeared first on HIPTHER Alerts.

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