DeFinity Inks a Partnership with Cobalt for Institutional Crypto Clearing and Settlement

Fazzaco learned that Cobalt, a leading FX and digital asset risk and settlement infrastructure provider, has formed a partnership with DeFinity, a decentralised finance (DeFi) marketplace for fiat Foreign Exchange, tokenised currencies, and central bank digital currencies (CBDC).

The collaboration will enable clients to leverage the processes of capital markets for digital asset trading, creating a secure technical infrastructure by maintaining the legal confirmation of each transaction.

Through the partnership, DeFinity will allow institutional investors to retain independent custody pre-trade while providing a consolidated view of fiat and digital asset positions.

“Our vision is to establish DeFinity as a leading electronic communication network (ECN) delivering sustainable and non-fragmented digital asset liquidity to market participants is hugely enhanced by our partnership with Cobalt, not only because of their revolutionary clearing infrastructure, but due to the fact that some of the world’s largest banks and funds are already clients and investors,”Manu Choudhary, CEO and Co-founder of DeFinity, said.

"A significant number of financial institutions are eager to capitalise on the cryptocurrency expansion, but the lack of institutional-grade infrastructure limits investment opportunities,”Darren Coote, CEO of Cobalt, added.”Cobalt is one of the only firms providing critical market infrastructure in both digital assets and FX and our partnership with DeFinity will help to distribute our post trade solution to a broader demographic of institutional traders.”

DeFinity and Cobalt are also jointly collaborating on further products and services, with shared synergies across a number of areas of innovation.