Omniex has partnered with Kingdom Trust, to accelerate its settlement in over-the-counter (OTC) crypto markets.
As part of this partnership with Kingdom Trust, mutual clients will be able to view and analyse assets held at the custodian.
Omniex offers its all-institutional client base portfolio and risk management, trade execution, investment operations, and compliance solutions.
Its execution management system offers connections to the crypto exchanges, as well as key OTC providers.
Kingdom Trust, which has $12 billion in assets under custody, was the first regulated financial institution to offer qualified custody for digital asset investments.
In August, the firm added insurance coverage from Lloyd’s of London syndicates to cover any physical theft or destruction of custody assets.
Hu Liang, CEO and co-founder of Omniex, said: “Whereas on-exchange the crypto settlement process is taken care of by the exchange, in the OTC space it has been like going back to the Stone Age, an all-manual process that has been a thorn in the side of clients.”
He added: “With continued development, the OSC will be vital to supporting and growing crypto’s OTC markets. Our recent partnership with Kingdom Trust is a key step toward our vision.”
Matt Jennings, CEO of Kingdom Trust, commented: “We are very excited to partner with Omniex. The Omniex platform is innovative and well positioned for the Kingdom Trust institutional client portfolio.”
He added: “The powerful and seamless structure of the Omniex environment will deliver an exceptional experience to our firms’ mutual clients, further strengthening the growth of the institutional crypto market.”
