Crypto custody solutions provider Trustology has partnered with FCA-regulated OTC broker, GCEX, to create a secure liquidity network backed by institutional-grade custody for digital asset trading amongst their client base of institutional investors, ultra-high-net-worth individuals and brokers.
GCEX provides funds, brokers, asset managers, professional traders, and banks with an advanced suite of integrated financial technology products including AI applications, allowing clients to automate on-boarding, offer and trade Cryptoassets and Currencies with tight spreads, deep liquidity from Tier 1 sources and solutions for clearing. The firm was founded by Lars Holst, also the founder of prime brokerage CFH Clearing in 2009, where he spent close to a decade as the firm’s CEO before selling to TradeTech in 2019.
The partnership will not only improve liquidity on exchanges, enabling customers to complete transactions at speed, but will also add security improvements and access to secure custody, helping GCEX facilitate a thriving ecosystem of OTC brokers, institutions, and custodians.
Alex Batlin, CEO and founder of Trustology, said: “We’re delighted GCEX selected Trustology as their custody provider. We’re looking forward to helping GCEX support their institutional investors across the entire spectrum of the crypto industry, be that safekeeping assets, transacting on-chain, on exchange, facilitating settlement or when using DeFi protocols. Excitingly, this also opens up broker access to DeFi liquidity and loans, where Trustology can help them navigate DeFi lending and staking platforms to maximize their earnings potential and capitalize on profits in their brokerage accounts, often removed due to fear of counterparty risk.”
Lars Holst, founder and CEO of GCEX, commented: “This partnership couldn’t come at a better time as we move toward building a liquidity network for the broader cryptocurrency markets and institutional activity in De-Fi has started to increase. Trustology’s commitment and unique approach to safeguarding assets, and enabling fast custody across chains and protocols without compromising on security or access make it the perfect custody partner for our burgeoning ecosystem.”
Trustology’s private key and transaction management security protocols are delivered through TrustVault, an automated infrastructure comprising of biometrics, compliance controls, hardware security modules and multiple levels of encryption. Transactions can be executed at subsecond speed through a number of interfaces including mobile devices, desktops, and APIs. Users will benefit from Trustology’s margin call alerts and other safeguarding transaction controls such as multi-sig and whitelists or ‘walled gardens’.
Trustology is working to act as a settlement agent facilitating settlements with GCEX and other institutional brokers, and on the other side dealing with the clearing element.
GCEX’s clients will soon be able to stake ETH right from the Trustvault dashboard and Trustology will soon extend support to staking, enabling users to earn interest on passive funds. This will allow investors to benefit from interest accrued via staking.