Torstone Technology And Digivault Partner To Enhance Post-trade Services For Digital Assets
- Trade Finance , Asset Management , SaaS
- 05.05.2021 01:45 pm
Torstone Technology, a leading SaaS provider of post-trade securities and derivatives processing, announced today that it has partnered with Digivault, a digital asset custody provider and custodial arm of Diginex, to provide Digivault’s clients with enhanced post-trade services while enabling Torstone Technology’s customers access to digital asset custody solutions.
The partnership with Digivault will leverage the Torstone Technology cross-asset platform including cryptocurrencies and tokenised assets, giving clients the flexibility to handle all of their crypto trading in a single post-trade solution leveraging Digivault for digital asset custody. This partnership will provide Digivault clients with an institutional-grade book-of-records functionality which is critical for regulatory compliance, and auditors.
The partnership will integrate and leverage both firms’ cloud infrastructure, with the Torstone platform providing a bridge between movement of traditional securities and fiat payments with digital assets, spanning standards and networks like FIX and SWIFT with digital networks and crypto custody.
Digivault has been built by specialists from government security and banking infrastructure technology. The custody solutions have been built to institutional risk policy standards and the team works with banks across the globe. Digivault offers extreme cold and one of the industry’s most secure warm solutions. Custody solutions built by Digivault are certified and accredited by cybersecurity standards, such as Cyber Essentials Plus. The cold solution operates out of the vaults of global vault provider Malca-Amit.
The Torstone platform provides a full middle and back-office solution for crypto assets alongside traditional securities and derivatives that covers trade capture, real-time clearance, settlement management and monitoring, and central safekeeping book-of-records. Through the platform’s real-time multi-currency sub-ledger, Torstone and Diginex clients can account for all their business in one place with full audit capabilities to address any needs of regulators and auditors alike.
Brian Collings, CEO, Torstone Technology, said, “Over the last year, we have seen a significant increase in interest in digital assets from our clients. Recognising the needs of the industry to consolidate traditional assets and digital assets on a single processing platform, we are now extending our multi-asset capabilities of crypto currencies and tokenised assets to custody and partnering with Digivault, a leading custodian of digital assets. This is an exciting growth area, and we look forward to continuing to work with our new partner Digivault.”
Robert Cooper, CEO, Digivault, said, “Our partnership with Torstone offers financial institutions assurance that their post-trade operations, including custody, are being managed safely while meeting regulatory standards. This transparency and the ability to simply manage cryptocurrency back-office processes alongside traditional assets is becoming an essential capability for investors and is a window into the future of investment.”