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Finery Markets, a non-custodial cryptocurrency electronic communication network (ECN) and SaaS trading platform provider, has announced a partnership with Nonco, a digital assets firm specializing in over-the-counter (OTC) trading.
Nonco, which acts as a market maker for major cryptocurrencies and stablecoins, has completed its first transaction using Finery Markets' FM Liquidity Match platform. This platform combines a matching engine with access to liquidity across more than 150 cryptocurrencies.
Founded in 2019, Finery Markets serves over 100 global businesses in the digital asset space, providing access to OTC liquidity through partnerships with liquidity providers, prime brokers, and custodians across multiple continents.
The company's non-custodial trading infrastructure offers various features including pricing intelligence, trade transparency, settlement options, risk management, and reporting tools.
Konstantin Shulga, Finery Markets CEO, stated: "Nonco joins Finery Markets at the particularly exciting moment as we have witnessed a double-digit growth in demand from institutional players for quality crypto liquidity. Our partnership will undoubtedly contribute to crypto institutions seeking to enhance their trading setup and receive better asset prices, while minimizing counterparty risks."
Fernando Martinez, Nonco CEO, commented: "The fusion of technologies from both companies is anticipated to catalyze further innovation and enable us to offer the most competitive prices to Finery Markets customers. At Nonco, our enduring mission is to deliver trading services that generate value for our global customer base. This partnership presents an excellent opportunity for business expansion, opening up new avenues for growth and broadening our market reach."
In 2023, Nonco secured $10 million in seed funding led by Valor Capital and Hack VC, with participation from several other venture capital firms and investment groups.
