Integral, the FX technology provider, has launched Integral Digital, a full extension of its trading and client distribution platform to support cryptocurrencies and fiat-backed stablecoins.
The new platform, Integral Digital, was developed in conjunction with Mint Exchange, and supports Bitcoin, Bitcoin Cash, Litecoin, Ethereum, Ripple, Stellar, CoDEX and 100+ ERC-20 tokens. Services include aggregation and connectivity to over 30 crypto liquidity providers, desktop and mobile client trading, risk management, and hot and cold wallet custody solutions.
“First and foremost, Integral does what our customers want,” Integral’s CEO Harpal Sandhu tells TradingTech Insight. “Our customers are major banks, brokers, asset managers, and cross-border payments companies around the world, and we’ve been getting requests from them for years to help them offer digital assets to their end customers, who want to use trusted financial institutions for trading, for custody, for leverage and for settlement.
“In terms of asset classes, crypto is most like FX,” continues Sandhu. “And as the largest FX OTC platform provider on the planet, we concluded that we should extend the Integral platform out to crypto. We started building out the infrastructure almost three years ago and we went live behind the scenes with our first few customers in 2022.”
Integral Digital offers a fully integrated Prime Brokerage solution providing direct market access to multiple exchanges and market makers via a single account, maximising netting across multiple venues and significantly reducing collateral requirements.
“The FTX affair has shown why the old ways of doing things – whether it was FX in the 90s, FCMs in the 2000s or crypto today – is broken. If you custody your assets with the same firm you get your leverage and liquidity from, it’s ripe for conflict of interest and abuse. That’s why our platform is separating liquidity, custody, margin lending, and trading. All separate and all transparent.”
Integral Digital is offered on a monthly subscription basis and can readily integrate with in-house and third-party providers via FIX and Rest APIs.
“By offering both FX & crypto side by side, every aspect of functionality that traditional participants have grown accustomed to in FX markets, they can now also have in crypto markets. The platform uses the same technology infrastructure as our FX offering. Integral Digital operates in the same data centres around the world, and it provides the same levels of transparency, efficiency, and reliability as FX markets,” concludes Sandhu.
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