definity-announces-european-family-office-fx-settlement-collaboration

DeFinity announces European Family Office FX Settlement Collaboration

 

DeFinity, a decentralised finance (DeFi) marketplace for fiat foreign exchange, tokenised currencies, and central bank digital currencies (CBDC), engages with Montgomery Lake (UK) to enable a network of European family offices to implement a near real-time FX settlement ecosystem.

Montgomery’s existing technology infrastructure and investment in over-achieving FinTech businesses provides for a well-suited launchpad for Europe’s established family offices to take advantage of DeFinity’s FX settlement ecosystem.

Manu Choudhary, Chief Executive Officer of DeFinity, says: “We are excited to have partnered with Montgomery Lake at this time. This partnership will enable a range of family offices to settle and clear their foreign exchange deals with us.”

DeFinity is a layer-2 protocol and decentralised exchange solution that utilises existing blockchain frameworks, including WeOwn, Ethereum, Polkadot, Binance Smart Chain, and Cardano. With a focus on interoperability, the ambition is to create a more inclusive decentralised ecosystem that helps to bridge the old with the new.

Buy-side clients often face the issue of credit access wanting to trade on primary markets. The DeFinity solution enables clients and market makers to transact swiftly and efficiently, removing third-party intermediation fees.

I.J Piekarska, Managing Director of Montgomery Lake (UK), adds: “Our aim is to provide clients, shareholders, and stakeholders with long-term returns. We strive to connect our family office network with suitable technology solutions. DeFinity’s ambitious plans for the future and their innovative approach to resolving some of the biggest issues in FX (the largest financial market) has attracted interest from our underlying investors.”

The pilot project is to last twelve months during which a range of buy-side clients will participate in integrating its EMS and OMS systems with DeFinity, facilitating spot FX transactions. The collaboration aims to include NDFs and Forward contracts in the near future.

Florian Batliner-Staber, Chief Product Officer of DeFinity, concludes: “As part of our product development roadmap, we seek to engage in cross-border European regulatory conversations with central banks and authorities to create a harmonious and future-proof framework catering for transparency, financial inclusion, and market efficiencies that are currently being developed.”

definity-vanguard-project-to-unveil-decentralized-fx-settlement-platform-in-2021

DeFinity vanguard project to unveil decentralized FX settlement platform in 2021

 

DeFinity, a decentralised finance (DeFi) marketplace for fiat Foreign Exchange, tokenised currencies, and central bank digital currencies (CBDC), announces its intention to deliver a near real-time settlement ecosystem to help FX market participants settle their cash FX, forwards, swaps, and NDF transactions at a fraction of the cost of traditional routes.

DeFinity is a layer-2 protocol and decentralised exchange solution, utilising existing blockchain frameworks including WeOwn, Ethereum, Polkadot, Binance Smart Chain, and Cardano. With a focus on interoperability, the ambition is to create a more inclusive decentralised ecosystem that helps to bridge the old with the new.

Manu Choudhary, Chief Executive Officer of DeFinity, comments: “We hope to introduce settlement efficiencies into the traditional asset space that we believe will help established and under-capitalised market participants alike improve their service to clients, investors, pension funds, and their own bottom line in the case of proprietary trading firms and hedge funds.”

Michael Siwek, Chief Revenue Office of DeFinity, adds: “Over the last decade the FX market has evolved to offer reduced last-look times, technology that accurately measures market impact and information leakage combined with record-low order matching speed through state-of-the-art networks. The crucial aspect of credit is important to many participants that may not qualify for Tier 1 credit access. The DeFinity solution enables regulated retail and under-capitalised firms to access primary markets using the DeFinity settlement platform, which makes it an attractive solution in the $6.6 trillion daily FX market.”

Security being at the forefront of the platform, users are to benefit from the introduction of an Information Security Framework using ISO standard ISO/IEC 27001, certification, and assurance standardisation based on ISAE 3402.

Sascha Ragtschaa, Chief Technology Office at DeFinity, states: “The existing and proven technology introduces immediate transactions to the network and enables our market makers and clients to efficiently trade with each other to benefit the wider marketplace.”

Current and future regulation is at the heart of the DeFinity eco-system and its Central Bank Digital Currency offering. As such, the platform welcomes engagement with the FCA, The Bank of England, offshore Central Banks, and other relevant authorities to create a robust and future-proof service benefiting the market at large.