Trustology has announced a partnership with GCEX, an OTC broker that is regulated by the Financial Conduct Authority (FCA). According to a release distributed by Trustology, the arrangement will enable a secure liquidity network with institutional-grade custody for digital asset trading. The targeted customers includes institutional money, UHNWI (ultra-high net worth individuals), and brokers.
Alex Batlin, CEO and founder of Trustology, said they were delighted to be selected to provide GCEX with a custody solution:
“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,” said Batlin. “Excitingly, this also opens up broker access to DeFi liquidity and loans, where Trustology can help them navigate DeFi lending and staking platforms to maximise their earnings potential and capitalise on profits in their brokerage accounts, often removed due to fear of counterparty risk.”
Lars Holst, founder and CEO of GCEX, who is described as being well known in traditional financial markets, following stints at Saxo Bank and Dresdner Kleinwort and founding prime brokerage CFH Clearing in 2009, stated:
“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 touts its TrustVault solution as a fully-automated infrastructure using biometrics, built-in compliance controls, hardware security modules, and multiple levels of encryption. Transactions are said to be executed at “subsecond speed” through a number of interfaces including mobile devices, desktops and APIs.
The GCEX integration will occur via API integration.
As a custodian with escrow capabilities, Trustology said it is working to integrate a settlement architecture as well, to act as a settlement agent facilitating settlements with GCEX and other institutional brokers.
Additionally, GCEX’s clients will soon be able to stake ETH from the Trustvault dashboard.
