Koine has signed a joint venture with Canada-based company DTM Global Holdings to deliver post-trade solutions to traditional exchanges and digital securities trading venues.
As part of the joint venture, Koine will deliver post-trade solutions across DTM’s Fintegration ecosystem of fintech and eDigital securities products for private and public sector enterprises.
DTM will work closely with Koine to develop a custody and settlement solution for eDigital securities for partners including the Metropolitan Stock Exchange of India (MSEI).
Koine will integrate with VentureXchange, DTM’s trading platform, with the MSEI that enables investors to trade in certain digital portfolios once they are listed on the exchange.
Additionally, a second partnership will be to develop DTM’s DiGiX platform, a digital securities market conceived and created for the next generation of smart securities (SWISSI).
Hugh Hughes, chairman and CEO at Koine, said: “In the past year, we’ve announced a number of significant partnerships which consolidate Koine’s reputation as the custody and settlement platform of choice for institutional investors. With this DTM international JV, Koine will support traditional exchanges in their increasing digital asset needs, as well as the rapidly growing market of regulated digital securities.”
Sanjeev Kumar, director and CEO at DTM, added: “Together with Koine, we are building a digitally smart financial market securities ecosystem for the next generation of financial markets. Our assessment is that going forward, there will be a marriage or merger of some sort between the world of crypto and the traditional financial markets, which will most likely be the next evolutionary phase for the development of the global financial markets.”
In October last year, Koine was authorised by the UK Financial Conduct Authority (FCA) to issue electronic money. The firm is now also preparing to submit an application to the FCA to include authorisation to custody securities.
More recently, Koine has been awarded in-principle approval to provide custody in relation to virtual assets in the Abu Dhabi Global Market.
