Crypto Finance Unveils AnchorNote for Off-Exchange Settlement
Crypto Finance Launches AnchorNote for Streamlined Off-Exchange Settlement
Crypto Finance, a subsidiary of Deutsche Börse Group, has launched AnchorNote, a new off-exchange settlement solution designed to boost capital efficiency and trading flexibility for institutional crypto investors.
AnchorNote enables institutions to trade across various platforms without needing to move assets from secure custody. The system facilitates off-exchange trade settlements while also enabling yield generation within a compliant and risk-managed environment, according to the company's announcement.
"With Crypto Finance AnchorNote, we are addressing a crucial gap between custody and capital efficiency," stated Philipp Dettwiler, Head of Custody and Settlement at Crypto Finance. Initially, the rollout focuses on the Swiss market, with broader European expansion planned shortly.
The system integrates BridgePort as a middleware solution to coordinate messaging between exchanges and custodians. "Together with BridgePort, we provide an integrated solution allowing institutional clients to operate securely, flexibly, and in real time," Dettwiler added.
AnchorNote Simplifies Collateral Transfers
Crypto Finance emphasizes AnchorNote's ability to facilitate rapid collateral movement between platforms. Institutions can access the service through a user interface or via a direct API connection.
"This infrastructure provides the foundation for scalable asset mobility needed by institutional traders," said Nirup Ramalingam, CEO of BridgePort.
Crypto Finance provides institutional-grade digital asset investment products, custody, and trading solutions. In February of last year, its German subsidiary obtained four licenses from the German Federal Financial Supervisory Authority (BaFin). The platform is also regulated by the Swiss Financial Market Supervisory Authority (FINMA).
Deutsche Börse acquired a majority stake in Crypto Finance Group in 2021. Crypto Finance already offers products on the SIX exchange in Switzerland, where it launched the first Swiss crypto asset investment fund.
Competition in Off-Exchange Solutions
The demand for efficient off-exchange settlement solutions is growing. Coinbase International Exchange integrated Copper’s ClearLoop network in July to offer similar services to its institutional clients. Sygnum also partnered with crypto derivatives exchange Deribit in March to provide off-exchange custody through its Sygnum Protect platform.