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DeFi market infrastructure company Bosonic has added Bitpanda Custody to its network, meeting the needs of institutional customers for a digital asset custodian based in the UK.
Bitpanda Custody, which is regulated by the Financial Conduct Authority in the UK, will join the Bosonic Cross Custodian Net Settlement Working Group as Bosonic works to release the service later in 2022.
Bosonic claims that this launch will establish an “industry first”, creating a new standard for payment-versus-payment (PvP) atomic swap settlement and netting across a global network of independent custodians supporting institutional business.
This network aims to be liquidity and custodian agnostic, providing liquidity aggregation and direct market access to exchanges and market makers, offering real-time PvP atomic execution and settlement with cross-margining, cross-custodian net settlement and payments.
Bitpanda Custody was previously known as Trustology when it was formed in 2017 with backing from Consensys and Two Sigma Ventures. It was acquired by Bitpanda earlier this year.
Rosario Ingargiola, CEO of Bosonic, says: “With the growth of the institutional digital assets market, specifically from the family office, buy-side world, there is significant demand for separate custody provided by regulated or qualified custodians.
“The need to protect clients’ data and assets is paramount and fundamental to the fiduciary responsibility of these clients.”
Bitpanda Custody managing director Alex Batlin says: “Bitpanda Custody is pleased to join the Bosonic working group to help institutional clients reduce end-of-day settlement risk and costs, while improving capital efficiency, all backed by an insured, regulated crypto custodian.”
Bosonic was formed in 2016, providing decentralised financial market infrastructure services (dFMI) with offices in San Francisco, New York and London.
