Wholesale Trading Platform Pure Digital Partners with Cobalt

Puremarkets Ltd, trading under Pure Digital, a leading trading platform for the wholesale digital asset market, and Cobalt, an award-winning provider of FX and Digital Asset risk and settlement infrastructure, announced their partnership to bring next-generation credit and post-trade solutions to market. 

Pure Digital and Cobalt are both multi-custodial. Market access providing participants will be free to leverage digital assets and manage risk through a smart routing mechanism.

As a technology partner, Cobalt will work with Pure Digital and the global trading community to deliver critical institutional trade infrastructure for digital assets. Cobalt's automated platform creates a single version of all Digital Asset trade data onto a ledger and solves for the real-time management of credit and settlement, reducing operational and counterparty risk.

Institutional participants will be able to trade on Pure Digital through existing Prime Bank/Custodial relationships and infrastructure, an area in which Cobalt are market leaders and innovators. The platform will include the industry's approach to best execution and standardised FIX connectivity to minimise trading and technology costs for participants.

Lauren Kiley, CEO of Pure Digital, says: "We are bringing to the wholesale market exactly what has been missing, an interbank marketplace which is transparent, efficient, and bank-grade."

"Pure Digital is pleased to formalise our cooperation with Cobalt as we share the same vision for the future of wholesale digital currency markets. We look forward to working closely together to deliver the primary venue for digital currency trading,"says Campbell Adams, Founder of Pure Digital.

"Digital Assets have been growing as a lucrative trade opportunity, but market infrastructure must be modernised for better control, market access and a secure settlement process,"says Darren Coote, CEO of Cobalt."Through our partnership with Pure Digital, we are focused on enhancing settlement and credit management to deliver a primary venue for participants to trade with minimised risk and cost. Pure Digital's deep market knowledge and banking network makes them an ideal partner to continue our focus on developing a new standard for institutional-grade infrastructure."