Elliptic and Crypto Facilities Bring Settlement and Clearing Mechanism to Bitcoin Trading
Bitcoin analytics and security firm Elliptic has partnered with bitcoin derivatives exchange Crypto Facilities to bring enterprise standards to bitcoin trading. The two London-based bitcoin startups announced today the launch of a settlement and clearing mechanism that separates bitcoin custody from all other exchange functions. The terms of the deal specify that the clients of the derivatives exchange will see their accounts hosted in Elliptic's secure vaults. It must be noted that Elliptic has KPMG accreditation for its vaults. Safety of Funds Guaranteed! The new partnership will see....
Related News
Two London-based firms, Crypto Facilities and Elliptic, have joined forces to provide a settlement and clearing mechanism to separate bitcoin custody from other exchange functions. The settlement and clearing mechanism marks another step in bringing bitcoin to capital markets. Crypto Facilities is a bitcoin derivative exchange while Elliptic is a bitcoin analytics and security firm. Crypto Facilities will host client accounts in Elliptic's secure, KPMG-accredited vaults. Under this arrangement, Crypto Facilities accounts are fully insured by an A-rated, Fortune 100 underwriter. Each client....
Two London-based bitcoin startups have unveiled a new system that "ring-fences" customer funds from other operations. As part of the set up, derivatives trading platform Crypto Facilities will continue to match buyers and sellers, but its partner, Elliptic, will take custody of the platform's funds at its cold storage vault. Though common practice in capital markets, today's announcement is the first of its kind for the bitcoin space, where exchanges have lost millions to hackers targeting funds in their centralised wallets, or by simply not holding them at all. In a statement, Crypto....
The Australian Securities Exchange (ASX) is seriously considering replacing its current clearing and settlement system with blockchain technology, reports claim. According to the Sydney Morning Herald, ASX CEO Elmer Funke Kupper said blockchain technology could help cut the cost and time associated with its Clearing House Electronic Subregister System (CHESS). The CEO added: "We are looking at what we can do to bring end-to-end efficiencies, and we have people looking very closely at blockchain to see if we can create efficiencies for our clients, investors and companies." He continued:....
Are public blockchains really a viable option for guaranteeing settlement finality for financial instruments? Tim Swanson, director of market research at R3, claims public blockchains by design cannot definitively guarantee settlement finality. For this reason, he says they are not presently a reliable option for clearing and settling financial instruments. Swanson aired his views on tabbforum in response to the view among some crypto enthusiasts and investors who see public blockchains as a settlement mechanism for financial instruments. Swanson claims they ignore the regulatory, legal....
The relationship between Lloyd's of London and bitcoin storage service Elliptic Vault broke down just weeks after Elliptic's launch in January, it has emerged. Elliptic Vault was the first insured bitcoin storage service in the world and was widely hailed as a milestone for the industry. The exact details of how the relationship between Lloyd's and Elliptic broke down are unclear, with Elliptic COO Tom Robinson saying his impression was that Lloyd's pulled out "due to the high level of publicity" around the deal. In turn, a Lloyd's spokesperson claimed Elliptic never actually finalised the....