London-based digital asset custody provider Koine announced a joint venture with Canadian company DTM Global Holdings to deliver post-trade solutions DTM’s FINTEGRATION ecosystem of fintech and eDigital Securities products for private and public sector enterprises.
Fiat exchanges and digital securities trading platforms on the in DTM’s international ecosystem will benefit from Koine’s post-trade solutions.
The collaboration between the two companies will bring a secure and compliant service to institutional market participants looking to invest in digital assets in a regulated environment. Koine was authorized by the FCA to issue electronic money in October 2019. The company is now preparing to submit an application to the FCA for custody securities. It has also recently been awarded in-principle approval (IPA) to provide custody in relation to Virtual Assets in the Abu Dhabi Global Market (ADGM).
Koine customers in DTM’s international ecosystem gain access to a post-trade solution. The automated service removes the need for human operation of the processes, delivering real-time egress of digital assets from custody where required.
DTM will work closely with Koine to develop a custody and settlement solution for eDigital securities for partners like Metropolitan Stock Exchange of India (MSEI). Koine will integrate with VentureXchange, DTM’s trading platform with the MSEI that enables investors to trade in certain digital portfolios once they are listed on the exchange.
The next step will be do develop DTM’s DiGiX platform, digital securities market created for smart securities (SWISSI). The first SWISSI will be a tradable diamond linked fund investing in physical diamonds that will be graded, priced and custodied with professional third parties.
The SWISSI e-Units will be traded on regulated public markets and sold through qualified or regulated market makers. Koine will provide full post-trade services for DTM’s first SWISSI diamond-backed token. With the first SWISSI fund, Koine and DTM begin replicating the structure for other underlying assets, including OTC traded products and real estate investments.
Hugh Hughes, Chairman and CEO at Koine, commented:
In the past year, we’ve announced a number of significant partnerships which consolidate Koine’s reputation as the custody and settlement platform of choice for institutional investors. With this DTM international JV, Koine will support traditional exchanges in their increasing digital asset needs, as well as the rapidly growing market of regulated digital securities. By expanding our capabilities in this way, we’re continuing to build and deliver the infrastructure and vision that industry participants need to protect and leverage their digital assets. We’re extremely pleased to be working with DTM.
Sanjeev Kumar, Director and CEO at DTM, said:
Together with KOINE, we are building a digitally smart financial market securities ecosystem for the next generation of financial markets. Our assessment is that, going forward, there will be a marriage or merger of some sort between the world of crypto and the traditional financial markets. Which will most likely be the next evolutionary phase for the development of the global financial markets. The JV will serve as a key enabling infrastructure in building the ecosystem that the market will need.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.