Bitcoin

Finery Markets and Nonco Collaborate to Enhance Institutional Crypto Trading

2 Mins read

TLDR

  • Finery Markets, a non-custodial crypto ECN, has partnered with Nonco, a digital assets firm and OTC provider.
  • Nonco has executed its first transaction through FM Liquidity Match, Finery Markets’ platform.
  • Finery Markets enables over 100 global businesses to access OTC liquidity for digital assets.
  • The partnership aims to enhance trading setups and provide better asset prices for crypto institutions.
  • Nonco secured $10 million in seed funding in 2023 from various investors.
  • Finery Markets serves clients in over 30 countries and has received SOC 2 Type 1 certification.

Finery Markets, a leading non-custodial crypto Electronic Communication Network (ECN), has announced a strategic partnership with Nonco, a digital assets firm.

This collaboration marks a step forward in providing institutional clients with improved access to over-the-counter (OTC) liquidity in the rapidly evolving cryptocurrency market.

Finery Markets, established in 2019, has quickly become a key player in the institutional crypto trading space. The company’s platform enables over 100 global businesses dealing in digital assets to tap into OTC liquidity through partnerships with leading liquidity providers, prime-brokers, and custodians across Europe, Asia, Africa, and the Americas.

This extensive network has positioned Finery Markets as a crucial bridge between traditional financial institutions and the crypto market.

The partnership was inaugurated with Nonco’s successful execution of its first transaction through FM Liquidity Match, Finery Markets’ advanced platform.

FM Liquidity Match combines a cutting-edge matching engine with instant access to deep liquidity across more than 150 cryptocurrencies, offering institutional clients a robust solution for their trading needs.

Konstantin Shulga, CEO of Finery Markets, highlighted the timeliness of this partnership, stating,

“Nonco joins Finery Markets at a particularly exciting moment as we have witnessed double-digit growth in demand from institutional players for quality crypto liquidity.”

Shulga emphasized that the collaboration would contribute to crypto institutions seeking to enhance their trading setup and receive better asset prices while minimizing counterparty risks.

Nonco, which operates as a market maker for top cryptocurrencies and stablecoins, brings a wealth of experience to the partnership. The company secured $10 million in seed funding in 2023, led by Valor Capital and Hack VC, with participation from notable investors such as Morgan Creek Digital, CMCC, and Theta Capital. This financial backing underscores the industry’s confidence in Nonco’s approach to institutional crypto trading.

Fernando Martinez, CEO of Nonco, expressed optimism about the partnership, stating,

“The fusion of technologies from both companies is anticipated to catalyze further innovation and enable us to offer the most competitive prices to Finery Markets customers.”

Martinez also emphasized Nonco’s commitment to delivering trading services that generate value for their global customer base, viewing the partnership as an excellent opportunity for business expansion and market reach.

Finery Markets’ non-custodial trading infrastructure offers a comprehensive suite of features designed to meet the complex needs of institutional clients.

These include pricing intelligence, built-in Best Execution, complete trade transparency, flexible settlement options, robust position and counterparty risk management, and comprehensive reporting tools. The platform’s pre-, intra-, and post-trade functionality provides clients with a holistic trading experience.

The company’s commitment to security and compliance is evidenced by its status as the first crypto ECN to receive SOC 2 Type 1 certification. Finery Markets was recently selected as one of the top 50 rising stars in the Deloitte Technology Fast 50 competition, underscoring its rapid growth and innovation in the fintech sector.


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