Archax, the digital asset exchange, broker, and custodian
regulated by the Financial Conduct Authority, has announced plans to enable investors to pair
cryptocurrencies with tokenized money market fund (MMF) instruments. The
company stated that this move aims to enhance the security and stability of
crypto investments and create new opportunities for generating profits in the
crypto space.
Graham Rodford, the CEO and Co-Founder of Archax, said: “The problems that crypto markets have experienced over the last 18 months
highlight the need for as much regulated cover as possible when trading, and
the banking crisis earlier this year means minimising counterparty risk is
hugely important too.”
Traditionally, most cryptocurrency exchanges offer trading
pairs against fiat currencies, such as the US dollar or stablecoins. However, this setup
often forces investors to hold their assets in unregulated instruments, earning
no yields and exposing them to single counterparty risks, typically associated
with banks or stablecoin issuers.
Archax’s crypto/MMF pairs will be accessible on the exchange and custodial platform and will include a wide range of leading
cryptocurrency coins. Notably, these tokenized MMF instruments will serve as a ‘currency’ for trading against other regulated digital and traditional assets
on the Archax exchange.
Archax announces crypto/money-market-fund trading pairs!
Facilitates regulated trading against #cryptocurrencies.https://t.co/1g8dfXgXNg
Capital at risk
— Archax (@ArchaxEx) October 10, 2023
In August, the London-based institutional crypto exchange
outlined plans to expand its offerings with Solana and Litecoin. The platform
also announced support for trading pairs against USDC and GBP. Initially,
Archax offered trading pairs for Bitcoin and Ethereum against the US dollar.
Archax’s Suite of Services
Despite being a relatively new entrant in the crypto market,
Archax has already made significant strides. In July, the company introduced a crypto custodian service, a primary issuance service, and a tokenization engine
aimed at supporting start-ups and early-stage businesses in raising capital.
Archax’s foray into the institutional crypto landscape
followed the introduction of its insolvency remote custody offering, with both
platforms complementing each other’s services. To facilitate its expansion and
product development efforts, the company successfully raised $28.5 million in
funding last year.
The exchange’s approach, which includes custody of digital assets, traditional securities, and fiat assets, along with
access to its crypto exchange and over-the-counter services, has
positioned Archax as an important platform for clients seeking safe and
efficient navigation of the digital asset landscape.
Archax, the digital asset exchange, broker, and custodian
regulated by the Financial Conduct Authority, has announced plans to enable investors to pair
cryptocurrencies with tokenized money market fund (MMF) instruments. The
company stated that this move aims to enhance the security and stability of
crypto investments and create new opportunities for generating profits in the
crypto space.
Graham Rodford, the CEO and Co-Founder of Archax, said: “The problems that crypto markets have experienced over the last 18 months
highlight the need for as much regulated cover as possible when trading, and
the banking crisis earlier this year means minimising counterparty risk is
hugely important too.”
Traditionally, most cryptocurrency exchanges offer trading
pairs against fiat currencies, such as the US dollar or stablecoins. However, this setup
often forces investors to hold their assets in unregulated instruments, earning
no yields and exposing them to single counterparty risks, typically associated
with banks or stablecoin issuers.
Archax’s crypto/MMF pairs will be accessible on the exchange and custodial platform and will include a wide range of leading
cryptocurrency coins. Notably, these tokenized MMF instruments will serve as a ‘currency’ for trading against other regulated digital and traditional assets
on the Archax exchange.
Archax announces crypto/money-market-fund trading pairs!
Facilitates regulated trading against #cryptocurrencies.https://t.co/1g8dfXgXNg
Capital at risk
— Archax (@ArchaxEx) October 10, 2023
In August, the London-based institutional crypto exchange
outlined plans to expand its offerings with Solana and Litecoin. The platform
also announced support for trading pairs against USDC and GBP. Initially,
Archax offered trading pairs for Bitcoin and Ethereum against the US dollar.
Archax’s Suite of Services
Despite being a relatively new entrant in the crypto market,
Archax has already made significant strides. In July, the company introduced a crypto custodian service, a primary issuance service, and a tokenization engine
aimed at supporting start-ups and early-stage businesses in raising capital.
Archax’s foray into the institutional crypto landscape
followed the introduction of its insolvency remote custody offering, with both
platforms complementing each other’s services. To facilitate its expansion and
product development efforts, the company successfully raised $28.5 million in
funding last year.
The exchange’s approach, which includes custody of digital assets, traditional securities, and fiat assets, along with
access to its crypto exchange and over-the-counter services, has
positioned Archax as an important platform for clients seeking safe and
efficient navigation of the digital asset landscape.
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- Source: https://www.financemagnates.com//cryptocurrency/archax-expands-services-introduces-crypto-money-market-fund-trading-pairs/
