“PrimeOne” is live and has the backing of liquidity providers Virtu Financial and Europa Partners.
Integral, an FX and digital asset technology provider, has launched PrimeOne, a stablecoin-based crypto prime brokerage that is already live with customers and liquidity providers such as Virtu Financial and Europa Partners, officials say.
The new crypto prime brokerage is “built on the Codex Layer-1 EVM blockchain” to provide “institutional-grade credit, trading, and net settlement in a single, integrated platform,” officials say.
PrimeOne clients can trade “with leading crypto market makers and exchanges through a single account — eliminating the need to maintain separate relationships across venues. Clients benefit from faster time to market, streamlined onboarding with just one AML/KYC check, and no credit requirement,” officials say.
In addition, PrimeOne’s on-chain infrastructure helps clients “retain control of their assets at all times. As open positions change in value, USD stablecoin-based margin automatically moves between counterparties’ wallets in real time, virtually eliminating counterparty credit risk. Trading limits are dynamically set based on margin balances held by PrimeOne participants,” officials say. The resulting trading ecosystem offers “superior liquidity, improved operational efficiency, and dramatically reduced capital requirements and credit exposure.”
“Integral is now bringing our best-in-class infrastructure to DeFi. PrimeOne reduces risk, cost, and complexity while unlocking liquidity, profitability, and confidence in crypto trading,” says Harpal Sandhu, CEO of Integral, in a prepared statement.
“PrimeOne is a gateway to the future of credit in cryptocurrency markets. The ease of setup, speed of onboarding, and access to liquidity will allow us to trade more profitably, more efficiently, and at lower costs,” says Peter Wisniewski, managing partner of Europa Partners, in a statement.
More information about PrimeOne can be found at https://primeone.net/
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