Crypto Facilities Adds Settling and Clearing Standards to Bitcoin Trading with Elliptic Partnership
The Bitcoin exchange will now have a settlement and clearing mechanism separate from the exchange.
The exchange's client accounts will be hosted in Elliptic's vaults and insured by an A-rated, Fortune-100 underwriter. Each account will be settled blockchain technology every day and movement in the account can be verified through the blockchain.
The process differs from traditional Bitcoin trading venues, which typically combine clients' assets and manage them directly, according to the exchange.
Timo Schlaefer, CEO of Crypto Facilities, tells Sell-Side Technology that offering a settlement
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