OTCXN is a blockchain-based firm that specializes in capital market infrastructure. Just recently, the firm has disclosed that it has gone into a strategic partnership with Kingdom Trust. Looking at its background, Kingdom Trust is a neutral asset-holding firm for trading entities and exchanges that use OTCXN technology. Indeed, exchanges and trading entities have deployed OTCXN technology in order to speed up the clearing and settlement of cross-exchange trading and OTC block trades. Basically, Kingdom Trust preens on being the first regulated financial institution to offer qualified custody services. Kingdom Trust offers third-party qualified custody services for digital assets such as Bitcoin (BTC) and Ethereum (ETH). As things stand, the digital investment holding firm has more than $12B USD in its custody.
How OTCXN Will Tackle Inherent Industry Challenge
Prior to the OTCXN launch, companies in the cryptocurrency space grappled with the challenge of a lack of robust clearing and settlement solutions. Their presence would eliminate the drawbacks of counterparty trading, as well as settlement risks. In addition, it connects all exchanges and global liquidity providers. Therefore, what OTCXN is bringing to the table is the capacity to provide liquidity access at the preferred custodian exchange or a trading desk with a single account. Also, Kingdom Trust will play a critical role in OTCXN network expansion. To this end, it will provide safe and capital-efficient access to clients. This way, it will guarantee global liquidity through OTCXN’s market authority platforms.
The Role of Kingdom Trust
On the other hand, the firm is a regulated and independent third-party custodian of digital assets with over 10 years’ experience in the alternative asset world. As a regulated trust firm, Kingdom Trust ensures that both local and foreign clients follow regulatory compliance. These regulations include AML/KYC. Accordingly, its strategy is relatively straightforward as it takes a comprehensive asset risk management approach. To achieve this, Kingdom Trust employs the combination of cold storage with sound segregation of responsibilities, which has insurance-backing.
Rosario M. Ingargiola, the Founder and CEO of OTCXN, gives more insight. He noted that his team is glad to work with Kingdom Trust. Speaking further, Ingargiola explained that it pleases them to use their platform to support their institutional clients. On the choice of Kingdom Trust, the chief executive noted that Kingdom Trust is one of the top independent and regulated trust companies fort both fiat and cryptocurrency. Eulogizing Kingdom Trust, OTCXN’s boss pointed out that Kingdom Trust reflects integrity, cutting-edge infrastructure, experience, and client asset protection.
Responding, the CEO of Kingdom Trust, Matt Jennings, explains the relevance of the deal. He noted that the strategic business collaboration will enable them to offer clients the best of hot trading and cold storage. On the role of OTCXN, the chief executive noted that OTCXN platform, partners, and network, would offer the power of liquidity to clients and markets.
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