Deribit launches new hybrid custody model 29 October 2024Dubai Reporter: Clelia Frondaroli
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Deribit, a digital assets derivatives exchange, has introduced a hybrid custody model that aims to accelerate institutional access to crypto derivatives.
The model is said to facilitate faster onboarding for third-party custodians and brokerages for capital markets traders. The custody firms set to use the model include Zodia, Fidelity Digital Assets and Copper Securities.
Deribit also notes that the solution will provide a secure and trustworthy exchange, allowing traders the choice of where their assets are stored, whether on the exchange or with the company’s custodians.
Commenting on the launch, Luuk Strijers, CEO of Deribit, states: “Supporting a hybrid custody model marks a significant step forward, providing enhanced flexibility for accessing Deribit’s world-class digital asset derivatives trading offerings."
Jason Urban, global head of trading at Galaxy, adds: "Institutional adoption of digital assets is rapidly evolving, and Deribit’s new hybrid custody model is a significant leap forward in that journey.”
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