June 8, 2022 - StoneX Group announced the launch of StoneX Digital as a subsidiary providing institutional clients with access to products and services for digital assets. The aim is to provide a comparable level of access to digital asset markets as they have to other asset classes through StoneX. Stone X Digital will be lead by Brian Mulcahy as Managing Director of Multi-Asset Business Development.
The establishment of StoneX Digital comes shortly after StoneX's registered swap dealer, StoneX Markets executed its first BTC-Cash Settled Swap.
Stone X Digital will seek to provide clients with tools to interact with markets and enable them to trade and custody cryptocurrencies. Other products and services are expected to include multi-asset coverage, staking, margin, and cross-asset lending.
Brian Mulcahy, Head of StoneX Digital, commented on the news, "StoneX is committed to providing our clients access to a wide array of markets, diverse asset classes, and the tools necessary to interact with those markets effectively. We are thrilled that StoneX Digital will give institutional investors the ability to execute and custody cryptocurrencies just as they would any other asset class, with a company that has the resources and a client-first approach to help them achieve their goals.
"As our clients' needs change in this developing market, StoneX Digital will continue to strive to meet those needs with innovative products and services. StoneX has worked hard to create an environment where our clients have stable and reliable access to a wide variety of asset classes. We will bring that same ethos to the digital asset space as we work to provide our customers with the tools they need to thrive in today's markets."
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