Crypto Trader FalconX Unveils Institution-Friendly Custody, Trading and Credit Services

FalconX, a leading cryptocurrency trading company, now offers a prime brokerage solution enabling institutions to execute trades on various exchanges without transferring their assets. These funds are securely held in regulated and bankruptcy-protected custody.

FalconX revealed on Tuesday that its Prime Connect service comes equipped with post-trade settlement, high-level credit for institutions, and portfolio margining, according to a press release obtained by CoinDesk. Deribit, the foremost crypto options exchange globally, is the initial platform to incorporate FalconX’s prime broking and custodial solution.

After FTX’s failure, the cryptocurrency sector has come to understand the importance of keeping customer funds in separate custody arrangements, distinct from those managed by exchanges, brokerages, and dealers.

“Vivek Chauhan, product manager at FalconX, announced with excitement the debut of Prime Connect in partnership with Deribit. We’re eager to offer our comprehensive prime services to institutions, enabling them to expand their digital assets holdings with assurance while executing trades on exchanges.”

Trading companies like Hyperithm utilize Prime Connect to conduct trades on Deribit. In the near future, FalconX indicated that they would integrate these services with additional exchanges.