just now
June 30, 2022 – Decentralised Financial Market Infrastructure (dFMI) business Bosonic and European fintech Bitpanda have announced that FCA-regulated Bitpanda Custody has joined the Bosonic Network™ to meet the growing demands for institutional clients’ need for a UK-based digital asset custodian.
Bitpanda Custody (formerly known as Trustology*) will also join the ‘Bosonic Cross Custodian Net Settlement (CCNS) Working Group’ as Bosonic prepares to launch the service later this year. This will be an industry first, and set a new standard for payment versus payment (PvP) atomic swap settlement and netting across an institutionally aligned and global network of independent custodians, eliminating counterparty credit and settlement risk between these institutional players.
Rosario Ingargiola, Bosonic CEO said, “With the growth of the institutional digital assets market, specifically from the family office/wealth, buy-side world, there is significant demand for separate custody provided by regulated or qualified custodians. The need to protect clients’ data and assets is paramount and fundamental to the fiduciary responsibility of these clients. We are delighted to have Bitpanda Custody join the Bosonic Network™ and look forward to helping them service their institutional clients.”
Alex Batlin, Bitpanda Custody Managing Director, added, "Bitpanda Custody is pleased to join the Bosonic working group to help institutional clients reduce end-of-day settlement risk and costs, whilst improving capital efficiency, all backed by an insured, regulated crypto custodian."
*Trustology was bought by Bitpanda in February of this year, and has been rebranded as Bitpanda Custody
