CRYEX announces new institutional FX and digital currency marketplace and clearing house

CRYEX announces new institutional FX and digital currency marketplace and clearing house
07.05.2015 01:00 am

CRYEX announces new institutional FX and digital currency marketplace and clearing house

Banking

CRYEX today announced the filing of an application with the Swedish Finansinspektionen (SFSA) to become a regulated clearing organization and create a member-only marketplace with clearing and settlement for FX and digital currencies.

Cryex is managed by a highly experienced team of banking and exchange executives with a record across FX and capital markets, technology, regulatory, risk and security management.                               

Simon Nathanson, Chairman of Cryex Clearing AB and one of Sweden's most experienced exchange executives said, “Cryex has a unique model to clearing and settlement and has all the necessary components in place; financial-grade architecture and technology partners, a seasoned team and a number of high profile strategic investors from the financial sector.”

Created to provide a trusted gateway between traditional regulated financial industry and digital currencies, CRYEX aim is for regulated market participants to trade a suite of spot and eventually derivative products in a highly secure and regulated environment.

CRYEX has received 10 M USD financial funding from key venture capital firms White Star Capital, Northzone and a number of financial industry leaders.

Eric Martineau-Fortin, Managing Partner at White Star Capital said, “We are delighted to be involved in delivering a truly innovative solution where Blockchain technology meets tier one exchange and clearing technology in a regulated environment, finally attracting financial institutions into the digital currencies ecosystem.”

Pär-Jörgen Pärson from Northzone added, “CRYEX will transform crypto currencies from small, unconnected niche markets into a full monetary ecosystem and settlement network”.

The CRYEX trading and clearing platforms are underpinned by established and proven financial industry technology.

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