Crypto Trader FalconX Unveils Institution-Friendly Custody, Trading and Credit Services
Summary
Cryptocurrency trading firm FalconX has launched a new prime brokerage service, Prime Connect, which allows institutions to trade on exchanges while their funds remain in regulated, bankruptcy-remote custody. The service includes post-trade settlement, institutional-grade credit, and portfolio margining. Deribit, a leading crypto options exchange, is the first to integrate FalconX's prime broking and custody solution. The launch comes in response to the need for client assets to be kept in custodial setups that are separate from those of exchanges, brokers, and trading firms. Trading firms like Hyperithm are already using Prime Connect to trade on Deribit, and FalconX plans to integrate the services with other exchanges in the future.
