- OKX collaborates with Forteus and Komainu to facilitate 24/7 crypto trading.
- Komainu ensures secure custody and off-exchange settlements for Forteus on OKX.
The global cryptocurrency exchange, OKX, has announced a partnership with Forteus, a digital asset management firm, and Komainu, a regulated digital asset custody provider. This collaboration has focused on addressing the need for efficient and compliant solutions in institutional crypto trading.
Notably, by utilizing the custody services of Komainu alongside OKX’s platform, Forteus can engage in continuous trading while its assets are securely stored in segregated custody. It further ensures that Forteus’s digital assets are protected with Komainu’s qualified custody services and cold storage solutions.
The off-exchange settlement and mirrored balances are the major traits of this partnership. This enables institutional traders to access OKX’s liquidity and trading solutions without transferring assets across platforms.
Lennix Lai, the Global Chief Commercial Officer of OKX, remarked:
“This collaboration with Komainu and Forteus exemplifies our commitment to solving the key challenges faced by institutional traders. By integrating secure, regulated custody with advanced trading capabilities and deep liquidity, we address issues like counterparty risk and asset mobility.”
This partnership builds on OKX’s commitment to institutional traders, following the launch of Komainu Connect in April 2023. It offers a platform for secure, collateralized trading without holding assets with trading counterparties.
On the other hand, the integration of Komainu’s services with OKX strengthens institutional trading, which likely addresses the challenges related to collateral management, counterparty risk, and asset mobility.
Advantages of the Partnership
The collaboration offers various benefits to institutional traders like secure custody, where the digital assets are securely held with Komainu for regulatory compliance and asset protection. Moreover, Forteus can trade round the clock on the OKX platform, providing institutional traders continuous access to trading opportunities.
Besides, the partnership’s tripartite organization enables mirrored balances, which eliminates the need for constant asset movement between the custodians and the exchange. It also interprets the rights and responsibilities to enhance trust, with dispute resolution mechanisms for added security. Furthermore, intraday settlements and real-time collateral management reform the liquidity and reduce inefficiencies.
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